Today's News

WASHINGTON

On the eve of a congressional hearing on loan-loss reserve accounting, bankers are still debating the impact of an article published two months ago. Page 2

NATIONAL/GLOBAL

Technology whizzes are finding bank jobs rewarding because they see how technology is being used to do exciting things. Page 6

INVESTMENT PRODUCTS

INSURANCE: A Florida insurance firm that already offers loans has applied for a thrift charter. Page 10

MORTGAGES

Neighborhood Housing Services of America set the stage for a more active secondary market in low-income mortgages with a $75 million securitization deal. Page 13

Shares of Fannie Mae and Freddie Mac have come under pressure recently because of rising interest rates and concerns about price competition. Page 14

CARDS

IBM has assembled a network of companies and services to help banks offer Internet services to their merchant customers. Page 16

DIGITAL FRONTIERS

ELECTRONIC COMMERCE: A technology strategist is poised to steer Mellon down the e-commerce path from a newly created executive vice president post. Page 19

TECHNOLOGY

Republic of New York says it is getting extra value from the RiskWatch software it installed a year ago, applying it to stress testing and other jobs. Page 20

MARKETS

Share prices of recently converted mutual thrifts have fallen to lows not seen since the early 1990s, said market experts. Page 30

A host of bank stocks may soon receive a boost from inclusion in an important market index. Page 30

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