WASHINGTON
The Federal Deposit Insurance Corp. laid out a plan to plug a regulatory loophole that is letting deposits seep out of the thrift insurance fund. Page 2
Comptroller Eugene Ludwig defended his moves to modernize the national bank charter and criticized lawmakers for failing to keep pace with the marketplace. Page 2
REGIONAL BANKING
Layoffs at Chase Manhattan have been balanced between former executives of Chase and its merger partner, Chemical Bank, this week's Career Tracks article reports. Page 6
First Union has applied to open a representative office in Bombay, India, underscoring U.S. banks' growing interest in the Indian market. Page 7
COMMUNITY BANKING
Richard Joutras, former chairman of FNW Bancorp in a Chicago suburb, was indicted on charges of insider trading during the bank's 1991 merger talks. Page 8
After weathering years of losses a Connecticut thrift, Farmers and Mechanics Bank, has agreed to sell to Citizens Financial Group for $53.2 million in cash, or 1.8 times stated book value. Page 8
MORTGAGES
Falling real estate values, high loan-to-value ratios, and borrowers with spotty credit history are causing problems for Quality Mortgage USA's 1993-vintage loan pools. Page 10
Norwest Mortgage has dethroned Countrywide Home Loans as No. 1 in securitizations since buying Prudential's mortgage unit. Page 10
INVESTMENT PRODUCTS
Great Western Financial, one of the few banks respected by brokers, plans to sell its own variable annuities through brokerages, according to today's Insurance page. Page 14
A newcomer to the U.S. investment management market, Deutsche Bank Trust, has snared a private banker from BankAmerica. Page 15
TECHNOLOGY
Observations of consumers' body language were a part of the exhaustive research behind the PC-based home banking products BankAmerica unveiled this month. Page 17
FINANCE
"Vulture" investor Kevin Pilot, who gained attention for loading up on ValuJet stock after a fatal Florida crash, now holds City National, Bank of Commerce, and some thrifts in his portfolio, but not because they're ailing. Page 22
Much of the recent spate of capital issuance by banks has been senior debt, a further sign of the industry's progress since the early 1990s. Back page