WASHINGTON Bankers worry that an SEC rule requiring more disclosure about their derivatives portfolios will stifle development of risk management techniques. Page 2 An IRS ruling may undercut the lure for thrifts of conversion to S- corporation status. Page 3 REGIONAL BANKING H.F. Ahmanson tried to turn up the heat on takeover target Great Western Financial with full-page newspaper ads calling on it to "Begin discussions with us NOW!" Page 4 Centura Banks' new chief executive has put together a top-management "leadership team" to focus on costs and act as his No. 2. Page 4 COMMUNITY BANKING Surrounded by larger competitors, small banks are carving places for themselves by concentrating on specific markets or lines of businesses. Page 5 A Hawaii banker who founded what is now the state's third-largest bank is stepping down after more than a generation at the helm. Page 5 TECHNOLOGY MIT PROFESSOR Nicholas Negroponte travels the world to advise companies and governments on ideas pioneered at the laboratory he founded in 1984. The author of the best-seller "Being Digital" and columnist for Wired magazine says he sees a big future for digital cash. Page 10 MORTGAGES New Jersey Mortgage and Investment is courting small banks by offering them equipment leasing and subprime lending programs. Page 6 INVESTMENT PRODUCTS Great Western's decision to pull its mutual fund complex off the auction block could signal problems for others looking for a quick and lucrative exit from the business. Page 7 A debate is brewing over whether bond mutual fund investors would make more informed choices if prospectuses included ratings assessing the risk of each portfolio. Page 7 CREDIT/DEBIT/ATMs First USA Paymentech's latest acquisition will give it a leg up as a transaction processor for the hospitality industry. Page 8 Several California regionals have set up an alliance of no-surcharge ATMs, to fight the giants that are charging noncustomers. Page 9 CORPORATE FINANCE Banc One, First Chicago, and National City won the mandate to lead a $410 million loan for an Indiana utility. Page 17 The high-tech sector continues to provide work for banks as financial advisers. Page 17

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