WILLIAM SHIEBLER, the top sales and marketing executive at Putnam Investments, says banks are making progress in mutual funds but must continue to improve the quality of their services to remain competitive. Page 7

WASHINGTON

Beginning next year, banks in Delaware will receive a $400 tax credit for every new employee hired above the minimum requirement of 50. Page 3

REGIONAL BANKING

NationsBank said it expects to replace about half of Boatmen's Bancshares bank presidents when it completes its $9.5 billion merger. Page 4

BankAmerica said it will charge fees for noncustomer use of its ATMs, becoming the first major bank on the West Coast to do so. Page 4

COMMUNITY BANKING

What started out as a good-natured pledge to increase banking services in a poor section of New York City has led to some unintended consequences for a Brooklyn banker. Page 6

A Honolulu banking company is dissolving its thrift subsidiary in an effort to reduce expenses and placate regulators. Page 6

MORTGAGES

Sidestepping a confrontation with Congress, Freddie Mac's chairman said the agency would adjust for declines in home prices in 1993 and 1994 before raising its loan ceiling next year. Page 8

CREDIT/DEBIT/ATMs

American Express signed an agreement to license smart card technology from Banksys, a company owned by 60 Belgian banks. Page 10

TECHNOLOGY

Chase Manhattan signed a three-year contract with Checkfree for bill- payment processing. Page 12

With the help of a "virtual" call center, KeyCorp pulled through a freak early-winter storm that dumped up to 50 inches of snow on the greater Cleveland area this week. Page 12

For one director at Integrion Financial Network, a home banking consortium made up of IBM and 16 major banks, the past is repeating itself. Page 13

FINANCE

Mellon shares gained Thursday, helped by a market rally and an upgrade by Keefe, Bruyette & Woods. Back page

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