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THERE IS TWICE AS MUCH MONEY ON DEPOSIT IN
THE CAYMAN ISLANDS THAN THERE IS IN CALIFORNIA, the Offshore Financial
Review, Sept. 1992 issue, revealed. A `` reliable source in the Caribbean''
told OFR that the Cayman Islands are undisputedly the largest offshore money
haven, with $440 billion in deposits. The second largest offshore center are
the Bahamas, with $160 billion in deposits. 70% of the money in both centers
is believe to have come from the United States. By contrast, there is $200
billion on deposit with about 300 commercial banks, bank branches, and
deposit takers, in the entire state of California.
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