WASHINGTON

Texas regulators have issued guidelines clarifying how lenders there may use their newly acquired ability to make home equity loans. Page 2

REGIONAL BANKING

National City of Cleveland and State Street of Boston reported strong fourth-quarter earnings gains - 9% and 29%, respectively - driven by revenue growth in fee-based businesses. Page 4

COMMUNITY BANKING

A California banker fired in 1996 from the bank he founded is looking to open a competing thrift in San Luis Obispo. Page 6

INVESTMENT PRODUCTS

Banc One and Invesco Retirement Plan Services have formed an alliance to offer midsize businesses a 401(k) option. Page 8

MORTGAGES

MGIC Investment, the Milwaukee mortgage insurer, reported fourth- quarternet income up 22%, to $86.5 million. Chief executive officer William H. Lacy said the company is poised to gain even more business if interest rates remain low and many borrowers refinance their loans. Page 13

GreenPoint said it would merge its New York and national mortgage divisions, and make several management changes. Page 12

TECHNOLOGY

Digital Equipment Corp. is looking to parlay its experience selling software to overseas banks into a successful domestic business. Page 14

ON-LINE BANKING: Bankers eager for glimpses of the financial services company of the future might do well to look to an on-line insurance sales company that started as a business school brainstorm. Page 15

CREDIT/DEBIT/ATMs

With new and wider support, a standardization initiative closely associated with MasterCard International and its Mondex subsidiary is gathering steam. Page 18

MARKET MONITOR

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WEEKLY REPORT: INTERNATIONAL

Congress' growing opposition to the Clinton administration's handling of the Asian debt crisis is adding to bankers' worries about the deteriorating financial markets overseas. Page 11

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