WASHINGTON

Underwriting insurance should be as much a part of banking as taking deposits or making loans, a senior New York Fed official said. Page 2

The Office of Thrift Supervision reduced the number of chartering, bylaw, and corporate governance regulations by more than a third. Page 2

REGIONAL BANKING

Washington Mutual Savings completed its acquisition of Ogden-based Utah Federal Savings for $15.2 million in stock. Page 4

COMMUNITY BANKING

With preliminary results tallied, California hedge fund Genesis Financial Partners is already claiming victory in its long proxy battle with a Massachusetts thrift. Page 6

The chief executive credited with turning around a once-troubled Massachusetts thrift resigned abruptly for undisclosed reasons. Page 6

MORTGAGES

Delinquency rates on home loans have dropped to the lowest level since the second quarter of last year, according to the Mortgage Bankers Association. Most of the improvement came in payments overdue 30 days. The MBA attributed the drop, the third in a row, partly to strong job and income growth. Page 8

After a torrid first half, loan fundings dropped at most mortgage banks this summer as interest rates rose. Page 9

INVESTMENT PRODUCTS

Riggs Investment Management is celebrating the one-year anniversary of a restructuring that champions freedom for its money managers. Page 10

Banc One's mutual funds are now available to state employees in Arizona and Texas for individual retirement savings plans. Page 10

TECHNOLOGY

Speakers from companies like Intel and Sun Microsystems were received enthusiastically by many bankers at the Retail Delivery '96 conference in Dallas. Page 12

CREDIT/DEBIT/ATMs

The investment firm Welsh, Carson, Anderson & Stowe and clothing retailer The Limited formed an information and transaction processing company for private-label credit cards. Page 14

Pulse EFT Association, the southwestern regional ATM network, will reduce some fees for 1997. Page 14

CORPORATE FINANCE

Commercial banks are expected to bring a slew of high-yield deals to the market over the next three weeks, ending a breakthrough year for bank bond shops on a high note. Page 21

Toronto Dominion Bank and Bank of Boston extended into next week the deadline for commitments to their $350 million loan for Metrocall, Virginia-based paging company. Page 21

MARKET MONITOR

Bank stocks continued their plunge, even as the market bounced back. Back page

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