WASHINGTON

Calling global financial upheavals inevitable, Comptroller of the Currency John D. Hawke Jr. said that even the smallest banks need to monitor their international exposure.

Banks and thrifts, as well as consumers, would benefit if the 12 Federal Home Loan banks were put on a more equal footing with Fannie Mae and Freddie Mac, says the system's regulator, Bruce A. Morrison.

NATIONAL/GLOBAL

BankAmerica said it is cutting back on the hours at many of its California branches.

COMMUNITY/REGIONAL

State regulators are concerned that community banks that rely heavily on Federal Home Loan banks for liquidity may not have enough collateral at yearend to meet year-2000-prompted withdrawals.

MORTGAGES

Fannie Mae says it is lobbying for "substantive" changes in a proposed risk-based capital rule that is under review by the Office of Management and Budget.

INVESTMENT PRODUCTS

What's different about being a trustee of a bank-affiliated mutual fund?

That's the question that Richard J. Herring, an independent director of the BT Funds, answered at an SEC roundtable on the role of independent investment company directors.

CARDS

Internet gambling companies, which are of dubious legality in the United States, use a terminology that links them to the banking and credit card industries in an effort to gain legitimacy.

DIGITAL FRONTIERS

ELECTRONIC COMMERCE: Undeterred by a dispute between privacy advocates and Intel, several providers of electronic commerce technology announced plans to use the controversial serial number being embedded in the Pentium III chip.

TECHNOLOGY

Valicert of Mountain View, Calif., announced cooperation agreements with four international information security companies, a sign of the rapid spread of digital certificate technology in foreign markets.

MARKETS

Fifth Third Bancorp said it would buy Cleveland thrift Emerald Financial for $204 million.

The new BankAmerica looks more and more like the old NationsBank, suggesting a strong tilt toward consumer banking, a Wall Street analyst says.

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