Today's News

WASHINGTON

In the wake of Asia's economic crisis, the comptroller criticized the weak standards of many foreign regulators. Page 2

COMMUNITY

The government will adopt a rule June 1 governing portfolio risk in bank investments, though compliance will not become mandatory until July. Page 5

REGIONAL

Comerica will pay stock bonuses-$10 million worth in all-to most employees. Page 6

Citicorp, which drew fire with a checking account requiring a combined $6,000 to avoid charges, will briefly offer one with a $1,500 minimum. Page 7

MORTGAGES

The head of HomeSide Mortgage will be based Down Under for a few years helping National Australia Bank, its new parent, drive down servicing costs. Page 8

DIGITAL FRONTIERS

ELECTRONIC COMMERCE: Steeped though it may be in a certain religious tradition, Salt Lake City has never seen J. Scott Lowry's brand of brimstone. Mr. Lowry, a former banker and real estate dealmaker and in no way a technologist, literally rode down from the mountains east of the Mormon capital a couple of years ago in search of a new career challenge. Page 22

CORPORATE FINANCE

Morgan witter will provide Sunbeam with up to $2 billion to buy three appliance companies. Page 11

BankAmerica named a fixed-income trading chief in London to help prepare for Europe's single currency. Page 11

INVESTMENT PRODUCTS

Instead of buying investment management firms, Amsouth helps set up independent ones and then partners with them. Page 14

CARDS

A national employment agency has tapped Diebold to give temporary workers the option of being paid daily in cash. Page 21

TECHNOLOGY

Hewlett-Packard won U.S. government approval to export strong forms of data encryption. Page 23

MARKETS

PaineWebber shares plummeted more than 7% as speculation cooled that the company would be acquired. Back page