INVESTORS should expect smooth trading from the securities industry when computers make the year-2000 change, the SEC chairman said. Page 2


ECHOING the moves of a host of U.S. investment banks, Bank of America opened its first equities sales and trading unit in Europe. Page 5


SOME NONOIL Texas banks say their stock has suffered on the mistaken idea that they lend to oil companies. Page 6


TWO MONTHS after its asset management arm touted bold plans for expansion, Countrywide said it is selling the unit. Page 9

OPPENHEIMERFUNDS has launched its first three mutual funds to be subadvised by Trinity Investment Management, the institutional asset manager that it bought this year. Page 9


WILSHIRE FINANCIAL Services fired its founder and chief executive officer, Andrew Wiederhorn, and its longtime president and co-founder, and put a turnaround expert in as CEO. The Oregon company underwent a bankruptcy restructuring this year that changed its board. Page 22

A NEW AVENUE may be opening for community banks seeking to tap the trust-preferred securities market. Page 22

THE BANK STOCK market continued its wide swings of recent days, falling as the market reopened after the Labor Day holiday. Back page


HOME EQUITY: Moody's has assigned an Aaa rating to asset-backed notes that Contimortgage issued using a structure that could set the pattern for troubled subprime issuers. Page 10


THE ADVANCED operating system bequeathed to the smart card world by the creators of Mondex gained a major endorsement in Australia. Page 11

A SPECIALIST in smart card devices for network security purposes has announced a series of card readers for various types of computers. Page 11




AN INTERNET bank is seeking growth by tapping the teenage market through an alliance with a Web site where youngsters go to shop. Page 14

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