Central Fidelity Banks Inc. has become the latest bank to announce a major restructuring of its securities portfolio, prompted by rising interest rates that will cut deep into 1994 earnings.

Central Fidelity, which is based in Richmond, Va. said it would take a securities loss of about $30 million pretax in the fourth quarter, which will have the effect of reducing its overall 1994 earnings per share by 50 cents.

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