Two pieces of legislation offered this week could fuel the already explosive growth in corporate reorganizations of small banks seeking tax breaks. Page 2

A government proposal recommends that lenders could pay referral fees to brokers as long as a borrower's closing costs were guaranteed. Page 3

An industry group urged Congress to increase the amount of FHA-insured adjustable-rate loans that may be issued annually. Page 3


A Scudder Kemper Investments fund manager sees the Arab-speaking world as a hotbed of investment opportunity. Page 4


Two Ohio banking companies are taking the unusual step of buying a third bank while still working on their own merger. Page 6


Bankers Trust said operating profits rose 7% as growing corporate finance fees offset trading losses in Latin America and Asia. CEO Frank N. Newman said the jump in corporate finance fees reflected "substantial momentum in securities underwriting activities and our merger and acquisition services." Page 22

Banc One's shares rebounded amid a sluggish market as investors took advantage of a price decline that followed Tuesday's earnings report. Back page


Countrywide is well on its way to opening more than 70 branches this year and expects to open 60 in each of the next five years, its CEO said. Page 7


Introduction of a single European currency may force multinational banks to cut their fees for cross-border payments as much as 50% by 2005. Page 10

An avalanche of legal action related to the year-2000 problem may be headed banks' way, said experts at a Chicago conference. Page 11


San Francisco is suing the OCC to obtain documents relating to BankAmerica's municipal bond business. Page 12


A Bank of New York veteran is jumping to Utendahl, a minority-owned financial services and advisory firm. Page 21

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