WASHINGTON Economic models used to measure market risk contain a fundamental flaw that could cause banks to underestimate their capital requirements, according to a new study. Page 2 COMMUNITY BANKING A beleaguered Hawaiian banking company has picked a new chief executive officer and come to an agreement with an investment firm that's been bucking for changes. Page 7 Dozens of branch sales in New York are fueling dramatic growth at a handful of community banks in the state. Page 7 INVESTMENT PRODUCTS a rising star at Lincoln National's consolidated investment arm is aiming to turn around troubled Delaware Management. Page 10 WEEKLY REPORT: INTERNATIONAL CoreStates has moved to open processing service offices in Korea and China while it fine-tunes its sales and computer operations. Page 8 The old joke about Brazil was that it was the country of the future--and always would be. But with foreign investment pouring in, economic reforms in progress, and a market that has risen more than 50% since last year, it's starting to look as if the future has finally arrived. Page 9 MORTGAGES New York State has warned mortgage insurers not to run afoul of its laws when doing business with lenders' reinsurance subsidiaries. Page 12 The credit risk to which Fannie Mae and Freddie Mac expose the government is decreasing, Standard & Poor's reports. Page 12 CREDIT/DEBIT/ATMs Advanta is issuing a second Visa card for Comcast, the big cable company. Page 13 First USA has successfully pitched affinity credit card deals to four Major League Baseball teams. Page 13 TECHNOLOGY ON-LINE BANKING: The CommerceNet consortium is about to make its first spinoff of a for-profit company. Page 14 MARKET MONITOR Some experts were surprised when Advanta projected a $20 million loss for the quarter, but PaineWebber's Gary Gordon was not among them. Page 20
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