INDUSTRY EXPERTS said the Fed should have let holding company subsidiaries earn half their revenues from underwriting commercial securities. Page 2

THE OCC gave Great Western, a giant California thrift, approval to set up two national banks. Page 4


CREDIT UNION presence in the farm lending sector, though slight, is growing rapidly. Page 19

COMMUNITY BANK of the Bay opened its doors this month to have a go at wiping away five decades of blight in Oakland, Calif. Page 19


THE VISA CASH cards introduced for the Summer Olympics have become hot collector items. Page 23


TOP EXECUTIVES of Freddie Mac and Fannie Mae told Congress their agencies' efforts give American homebuyers lower mortgage rates and ready access to credit. Page 24


THE INTERNET is flashy. Quicken and Microsoft Money are cool. But the real workhorse of remote banking is the call center. KeyCorp executive vice president Patrick Swanick says convenience has fueled telephone banking's rapid growth. Pullout section


THE ST. LOUIS unit of Boatmen's has reduced its loan approval time - and cut its telephone bills to boot. Page 26

A SMALL but growing number of credit unions are competing with banks for business loans. Page 27


TECHNOLOGY stocks rode the bull market last week after investors concluded the Fed would not raise interest rates this month. Page 28

NATIONSBANK is putting the finishing touches on one of the industry's largest backup computer sites. Page 29


U.S. BANKS significantly increased loans to emerging-market countries last year, but most didn't let shareholders fully in on this information. Page 33

SUDDENLY, an interest rate hike this month by the Federal Reserve looks rather unlikely. Page 33


THE TOP THREE banks in Switzerland are expected to report higher first- half earnings. Back page

BANK STOCKS steamrolled into record territory as a weaker than expected July job report fueled the bond market rally. Back page

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