NationsBank clarifies accounting change.

NEW YORK - Nations Bank said it reclassified certain investment securities held at yearend to conform to an accounting method it adopted in the first quarter of this year.

The change requires no restatement of 1991 earnings and will not affect 1992 results, a spokeswoman said.

On Friday, NationsBank shares slumped $1, or 2.2%, amid concerns the restatement would affect earnings. Volume was 1.3 million shares, nearly triple the normal 479,000.

The stock recovered somewhat Monday, rising 37.5 cents, to $25.375, by mid-afternoon.

Nations Bank, based in Charlotte, N.C., reclassified as "assets held for sale" $8.9 billion of government securities held at yearned 1991 and previously classified as "for investment."

Included were the $6 billion in securities that the company listed as held for sale at the end of first-quarter 1992 plus securities sold during the quarter.

The company said it anticipated no further actions as a result of the accounting change.

NationsBank said the change follows May discussions with the Securities and Exchange Commission and reflects an expectation that the industry will shift toward broader disclosure of investment securities portfolios under future mandates from federal regulators.

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