the ALL program has been run on this file

WASHINGTON

The Bank Insurance Fund is on track to earn $1.72 billion this year but is expected to report only $1.27 billion of profits. Critics blame soaring expenses, but the agency says it is just a result of changing accounting realities. Page 4

REGIONAL

Despite having an attractive Southern California branch network, Bank Plus may have a difficult time finding a buyer because its portfolio is overweighted in multifamily residential loans. Page 6

MORTGAGES

or suggestions of fraud in mortgage applications fell during the first half but were above the national average in the West, a study found. Page 9

CARDS

Credit card companies are pleased the Internal Revenue Service will begin accepting card payments but are still griping about legislation that bars the agency from paying card processing fees. Page 12

MARKET MONITOR

Berkshire Hathaway has submitted its proposed $18.5 billion purchase of General Re Corp., for European Union antitrust approval, one regulatory hurdle to its acquisition of the biggest U.S. reinsurer. Page 13

H.F. Ahmanson's shareholders approved its proposed merger with Washington Mutual. Page 20

INVESTMENT PRODUCTS

PNC Bank intends to let Hilliard-Lyons take the wheel of its retail brokerage business once its deal for the Kentucky securities firm closes at yearend. Page 21

TECHNOLOGY

Bank technology stocks could not protect themselves from the ill winds that blew through Wall Street last week. Page 30

Vanguard Group is promoting its on-line services by helping people get on the Internet. Page 31

CORPORATE FINANCE

Institutional investors in the loan market have found a way to keep the level of telecommunications paper in their portfolios beneath allocation limits - by calling these holdings something else. What passed as telecom debt two years ago may now be called media, broadcasting, cable, or even utility debt. Back page

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