REGIONAL BANKING U.S. banks could make more big loans to Canadian businesses under a proposal to be considered by Canada's government. Page 6 COMMUNITY BANKING The shake-up in the agriculture finance industry is being played out within the banking community as well. Page 8 SMALL BUSINESS Norwest's acquisition of a small Denver-based factoring company is helping the bank focus on start-ups and small firms with credit troubles. Page 10 MORTGAGES SUBPRIME LENDER RAC Financial Group has a deal to buy Western Interstate Bancorp, which makes home-improvement loans on the coast. Page 12 Bank of America is easing the terms on its new 3%-down loans, effectively making them available to people with even lower income. Page 13 WASHINGTON Fed Chairman Alan Greenspan suggested that he supports a bill to set limits on federal scrutiny of derivatives trading. Mr. Greenspan says the government should let the market police itself. "Private market regulation appears to be achieving public policy objectives quite effectively and efficiently," he says. Page 2 The FDIC is expected to reject a proposal that would require some bank directors to report personal securities transactions. Page 2 INVESTMENT PRODUCTS Cole Taylor's top trust and investment marketer jumped ship to SouthTrust. Page 15 CREDIT/DEBIT/ATMs Private-label card processor Alliance Data Systems picked up another big piece of retail business by signing a deal with Service Merchandise. Page 16 TECHNOLOGY AN AUSTRALIAN contract helped Alltel buck the market downtrend. Page 18 CORPORATE FINANCE KeyCorp is shifting some of its fastest-growing financing businesses into a new stand-alone subsidiary to raise its profile in corporate banking. Page 24 Union Bank of Switzerland is leading a $662.5 million bank loan for a Philippines power project. Page 24 MARKET MONITOR With bank stocks at all-time highs, some analysts wonder if buyback programs really make sense. Page 25 Contrary to recent thinking, the torrent of money gushing into mutual funds is not driving the current bull market in stocks, says a Wall Street economist who has scrutinized consumer savings patterns. Page 25
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