WASHINGTON - Glendale Federal Bank escaped the clutches of regulators Thursday when the Office of Thrift Supervision lifted its requirement that the California thrift attain certain capital levels by 1995.

The decision to lift the prompt-corrective-action order imposed in June was seen as a significant victory for the money-losing Glendale, the nation's fifth-largest thrift. Under the order, the thrift had to raise its core capital to 5% of assets and its risk-based capital to 10% by 1995.

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