WASHINGTON:
THE COMMODITY Futures Trading Commission doesn't want to regulate the over-the-counter derivatives market, its chairman says. Page 2
REGIONAL BANKING:
BANK OF BOSTON is combining 15 checking accounts into four and linking deposits, investments, and loans to waive fees and offer more advantageous interest rates. Page 6
DAIWA BANK plans to file a motion in federal court to dismiss some of the charges against it in the cover-up of $1.1 billion in bond trading losses. Page 6
MORTGAGES:
THRIFTS must become a part of the financial mainstream to survive, says Stephen J. Trafton. His Glendale Federal has cut back on its mortgage holdings in favor of higher-yielding consumer and small-business loans. Page 13
EXECUTIVES of Fannie Mae and Freddie Mac took pains recently to reassure lenders they are forging ahead with programs to help them reach low-income borrowers, despite problems including rising delinquencies. Page 12
COMMUNITY BANKING:
THE FORMER HEAD of a failed upstate New York bank has been indicted on charges of conspiracy, bank fraud, and bank bribery. Also indicted was a bank director from whose law firm the executive was accused of accepting kickbacks. Page 8
NEVADA is breaking new ground in the thrift field - but not in a way proponents of community banking would want. Two pending acquisitions by Norwest would leave the state without an independent savings institution. Page 8
INVESTMENT PRODUCTS:
PNC is reportedly in negotiations to market its $10 billion-asset mutual fund family through Merrill Lynch, PaineWebber, and other major brokerage firms. Page 10
IF YOU WANT something done right, do it yourself. That attitude prompted Crestar Financial's trust and investment management division to develop its own computerized client management system. Page 11
CREDIT/DEBIT/ATMs:
THE HONOR network has discovered a new way to promote the growth of point of sale debit - by forging alliances with other electronic banking networks. Page 14
TRANSMEDIA, the discount dining card company, and Signature Group, which offers credit card enhancements, are upping the ante in the frequent- flier business with two programs aimed at travelers who frequently dine out. Page 14
TECHNOLOGY:
THREE BANKS that worked as partners with NCR to develop a low-cost system for check image processing are now in full production on the system. Page 17
FINANCE:
DESPITE increased short-selling of finance companies and banks specializing in consumer lending, overall short interest in banking-related stocks plummeted in the month ended Jan. 15. Arbitragers covered some huge short positions on banks that completed acquisitions. Back page
AFTER BEING pleasantly surprised by high-yield returns in 1995, investors expect more of the same this year, according to a recent survey of 80 of the largest high-yield investment firms. Page 22
