the ALL program has been run on this file
WASHINGTON
Banks have endured crises, but never a derivatives crisis. Credit for this feat, many observers say, goes to the Group of 30. Page 2
REGIONAL
Many big banks planning major mergers this year are facing a paradox: Though they are eliminating jobs, they are also having a hard time filling many other skilled positions. Page 6
COMMUNITY
A failed Colorado bank reopened after regulators sold its insured deposits and some assets to another state institution, Pueblo Bank and Trust. Page 9
INVESTMENT PRODUCTS
Bank of New York's retail securities brokerage program is coming of age: Within 18 months it plans to hire more than 60 investment representatives from Essex Corp. Page 12
MORTGAGE TECHNOLOGY
When Beneficial put itself on the block this year, it said the cost of new technology was forcing the sale. Now that Household Inc. has bought the company, it is investing in bringing Beneficial up to speed. Page 13
MORTGAGES
Moves by Fannie Mae and Freddie Mac toward buying loans of A-minus and lower credit quality are worrying lenders because of already tight profit margins in the subprime market. Page 14
DIGITAL FRONTIERS
ELECTRONIC COMMERCE: As Integrion Financial Network nears its two-year anniversary in September, it has yet to fulfill its original vision as a one-stop wholesaler of on-line banking systems. Page 15
TECHNOLOGY Page 16
CARDS
NationsBank and BankAmerica have named six executives to the credit card team that will take over when the institutions merge Oct. 1. Page 18
CORPORATE FINANCE
Money continues to flow into private equity partnerships, despite complaints by many market observers that the industry is plagued with too many dollars seeking too few good deals. Page 29
MARKETS
Popular Inc. earns high marks for its focus on serving the growing Hispanic population in the United States, but James Schutz, banking analyst at ABN Amro, says the shares have gotten ahead of themselves. Given the premium, Popular, with $20 billion of assets, "is unlikely to outperform the bank group over the next couple of years," says Mr. Schutz, who downgraded the shares to a "hold" from a "buy." Back page
LETTERS Page 20
