FOREIGN BANKS: The Fed is expected to propose by March 31 a major overhauling of its rules governing foreign banks. The proposal would relax rules limiting the amount of income foreign banks may earn outside the United States from insurance and securities activities. It also would eliminate scores of duplicative filing requirements, and it would make it easier for foreign banks to expand their operations here. Release of the rule has been delayed several times as Fed officials worked on changing Regulation Y and the section 20 rules.

CALL REPORTS: The exam council is expected in late March or early April to vote on whether to require all banks to file call reports electronically. The three banking agencies had wanted to phase in electronic filing between June 30 and Dec. 31, depending on an institution's size, but they may push back the starting dates.

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