Societe Generale will take over the U.S. administration duties for Rhineland Funding Capital Corp., following CIBC's announcement that it will step down in six months. Rhineland, established by IKB Deutsche Industriebank AG in March 2002, has been administrated by CIBC, the announcement said.

Rhineland initially had $1.6 billion in funding capacity, but has since grown to $7.2 billion.

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