WASHINGTON -- Banking and securities firm membership in financial trade grou ps is becoming more homogenized as activities of the two sectors increasingly overlap and the debate on modernizing financial services heats up, according to industry officials.

But the American Bankers. Association, which does not represent, securities firms and whose commercial bank membership has been eroding, announced plans hie Monday to form a new subsidiary that would address bank involvement in securities underwriting, mutual funds, and derivatives.

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