Focus On: The Glendale-CalFed Deal

The combined thrift would have its work cut out for it attracting small- business customers. In an aggressive marketing campaign, Glendale has decried big mergers. Page 18

The deal's complex financing and power-sharing arrangements are explained-and CalFed appears to be the winner. Page 22


Creditors and consumer advocates traded barbs over whether a proposed needs-based bankruptcy system would work. Page 2


Having closed its $1.6 billion deal for discount broker Quick & Reilly, Fleet is ready to fold its own brokerage operation into that of the new subsidiary. Page 6


A military retiree with banking experience is working on an Internet- based system for electronic data interchange-the automated exchange of business payments and documents. Page 16


ON-LINE BANKING: First Data's direct banking division said it will use software from Home Financial Network to help community banks get quickly and inexpensively on the Internet. Page 17


First Alliance, an Irvine, Calif., consumer finance company, withdrew its bid for a Southern California thrift after the OTS failed to act before the deal expired. Page 19


BankAmerica has combined into a single unit all of its businesses that raise debt capital. Page 21


Managing directors in mortgage-backed securities operations continue to fall by the wayside as top firms close or reduce their participation in the market. Page 22


Northern Trust took a big step toward bolstering its investment management business by naming a former Zurich Kemper Investments CEO to head a newly created business line, global investments. Page 30


Bank stocks trailed the markets on another record-setting day. Back page


U.S. banks will grab major market share in Europe after the continent moves to a single currency, according to American and European bankers. Page 20

The merger of Royal Bank of Canada and Bank of Montreal may never occur if the two cannot overcome strong regulatory and political objections. Page 20

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