GOLDMAN SACHS said it has raised an unprecedented $42 billion in commitments to finance Elf Aquitaine's reverse hostile bid for Totalfina. Page 3
HELLER FINANCIAL of Chicago has opened its first office in Canada. The finance company, which is controlled by Japan's Fuji Bank, now has offices in 23 countries. Page 3
IOWA BANKING regulators signed off on the planned merger of Firstar and Mercantile, certifying that their combined deposits on June 30 met the state's legal limit. Page 4
A BATTLE is being waged in central Pennsylvania between two banks headed for the altar and a larger rival that would like to break them up. Page 5
MORGAN STANLEY became the latest U.S. firm to announce an asset management alliance with a Japanese bank. Page 6
WASHINGTON
AFTER SPENDING more than $100 million preparing the nation's ATM networks for the year-2000 change, network executives said customers will be able to use their debit cards on Jan. 1 as on any other day. "The sky is not going to fall. These systems are working and will work," said Stan Paur, president and CEO of Pulse EFT Association. Page 2
THE SBA is declaring its first auction of loans a great success. The bids nearly doubled its estimate of what the loans would have brought if held to maturity. Page 2
MORTGAGES
NORWEST MORTGAGE, once nonchalant about the Internet, will begin marketing products and taking applications on-line. Page 8
CARDS
COMPANIES THAT SELL transaction processing services to retailers say electronic benefits transfer is an ideal way to attract small stores. Page 9
TECHNOLOGY
THE NEW YORK Clearing House Association began using a new system that makes transactions final on the day payments are settled. Page 10
ON-LINE BANKING
TRANSPOINT is working behind the scenes to rev up its much-anticipated electronic bill presentment program, its top officer said. Page 11
MARKETS
PROBLEMS at Bank One dragged down the entire bank stock market, with the Standard & Poor's bank stock index dropping 2.7%. Back page
