THE MARKET for financial services for the affluent is growing fast, but banks' share is shrinking. How can they beat their nonbank rivals? That's one of the topics addressed in this special issue focusing on trust and investment. Pullout section


THE BANKING industry applauded a decision by the Environmental Protection Agency to clarify lender liability for environmental cleanup. Page 2

MANY MIDSIZE banks and thrifts have become risky "arbitrage funds" that gamble with federally insured deposits and will fail if interest rates rise sharply, an Arthur Andersen risk management expert said. Page 5


BECAUSE OF MASSIVE merger dislocations, the new Chase might have a hard time holding on to corporate customers, some analysts say. Page 7


FARM BANKS resist tacking fees on to their services, and even the most profitable credit extraordinary circumstances rather than aggressive fee strategies. Page 13


A SURVEY showing that compensation of chief executives is closely tied to membership size is stirring debate in the industry. Page 16


EVEN AS mortgage bankers jump onto the World Wide Web, industry experts say the Internet, despite its vast potential, is so far mostly for show.

Page 24

ORIGINATORS are likely to see business fall off as computers take over many of the tasks they have traditionally performed, a PaineWebber analyst says. Page 25


WITH BANKS MERGING right and left, the firms that execute their brokerage transactions are jockeying for position. Mergers are reducing the number of bank brokerages. Page 27


TRANSMEDIA NETWORK, the discount dining card company, introduced a program that offers a 30% meal rebate that can be applied to the purchase of an airline ticket. Page 32


CHASE MANHATTAN has assembled a global payment processing service meant to take over the payment functions of large corporations and other banks. Page 41


SOME OBSERVERS are starting to wonder whether banks can keep dishing out large doses of credit indefinitely, and whether liquidity problems might be ahead. Back page

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