WASHINGTON

FASB Chairman Edmund L. Jenkins came under more heat from Congress over the controversial derivatives rule. Page 2

The Comptroller attacked plans in pending legislation for an umbrella supervisor of financial companies, saying it would increase compliance costs and expand the safety net to nonbanking units. Page 3

COMMUNITY BANKING

A Lynn, Mass., bank is the first to originate commercial mortgages for Prudential Insurance. Page 6

Banks in Michigan and Tennessee found a way to boost sales of CDs - linking their interest rates to victories by the hometown football team. Page 6

CORPORATE FINANCE

NationsBank bought Montgomery Securities for its equity prowess, but the acquisition is making NationsBank more junk-bond savvy as well. Thom Weisel, who was Montgomery's CEO, will be chairman of NationsBank Montgomery Securities Inc. Page 8

Looking to become the syndicated loan market's first discount broker, the boutique investment bank Meenan, McDevitt & Co. established a loan trading and clearing service this week. Page 8

INVESTMENT PRODUCTS

Looking to heat up sales of its high-end policies, New York Life Insurance launched a series of estate planning seminars this week on Alaska trusts. Page 9

Merrill Lynch, Orbitex, and American Century are spicing their menus with more international funds. Page 9

CREDIT/DEBIT/ATMs

U.S. credit card issuers eyeing the Canadian market will find it a lot like their home territory, a survey suggests. Page 10

Japanese banks are upgrading their automated teller machine networks, and U.S.-based vendors see dollar signs. Page 11

TECHNOLOGY

A Pennsylvania bank's Web site is meant to help find a new car and sell the old one as well as arrange the loan. Page 12

BankBoston and NationsBank are gearing up for the Financial Services Technology Consortium's electronic check pilot. Page 12

MORTGAGES

Charter One Financial is moving quickly to consolidate its gains from the purchase of Rochester Community Savings Bank in upstate New York. Page 14

MARKET MONITOR

Merrill Lynch is reportedly in talks to buy Bankers Trust's retirement planning business. Page 24

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