FIRST FIDELITY CEO Anthony P. Terracciano would retain most of his management team when his New Jersey-based bank became First Union North after the planned buyout, according to an internal memo. Back page

CHEMICAL SECURITIES' chief economist says banks should stop waiting for interest rates to fall further. James E. Glassman regards the current level of rates as "a small price to pay for healthy economic activity." Back page


AFTER WORKING for years to tear down the wall separating investment from commercial banking, bank lobbyists are scrambling to prevent Congress from forcing banks to push securities activities out to holding company subsidiaries. Page 2

NINE MONTHS after rumors surfaced that he would be nominated to the Federal Deposit Insurance Corp. board, Joseph H. Neely appeared before the Senate Banking Committee for his confirmation hearing.

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A LENDING consortium is being launched in California for needy small businesses. It is billed as the largest and most ambitious effort of its kind. Page 4


MORE AND MORE credit unions are bucking tradition by pricing loans according to the riskiness of the borrower, according to industry sources.

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TARGETING FIRST-TIME homebuyers strapped for down payments, Coastal Federal Credit Union of Raleigh, N.C., has started offering first mortgages with 100% financing.

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BANKAMERICA is seeking to build its portfolio of high-balance, low- risk home loans to relocating executives through a new alliance with Coldwell Banker. Page 14

GE CAPITAL Mortgage has hired Graham Williams, an industry veteran, to take charge of risk management for mortgage services and mortgage insurance. Page 14


THE SUMMER RUSH of bank customers into stock mutual funds continued through September. Bank brokerage chiefs say the strong sales through summer, usually a slow season, indicates growth to come this fall.

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ADVANTA has dipped into MasterCard International's talent pool yet again, hiring Arthur D. Kranzley as senior vice president. Page 16


AN EARLY FROST in the Midwest could put a chill on some banks' agricultural loan portfolios. But banks are in good shape to face the test, experts say.

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IBM HAS UNVEILED what it claims is an innovative technology that allows investment firms to price derivatives more accurately. Page 17

THE INDUSTRY should "radically reengineer" through technology, a top analyst said in the keynote address at the Bank Administration Institute's home banking conference. Page 19

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