LOS ANGELES - Citing accounting changes and a bulk sale of problem assets, California Federal Bank reported a net loss of $423.1 million for full-year 1994, compared with a net loss of $145.5 million in the year- earlier period.

The bank took a $274.8 million charge for the bulk sale of $1.3 billion of nonperforming "and other high risk" assets during the year. The bank also took a $274 million charge to earnings related to the elimination of goodwill.

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