BANK BILL AT A GLANCE
Here, at a glance, are the key provisions of bank deregulation legislation approved early yesterday by the House Banking Committee:</br></br>Securities: The bill grants bank holding companies the power, through separately capitalized subsidiaries, to underwrite corporate bonds, mutual funds, commercial paper, corporate debt convertible to stock, and securities backed by mortgages and other consumer loans.</br></br>A bank would not have to form a holding company to underwrite municipal bonds or to sell shares in a mutual fund underwritten by another company.</br></br>Securities firms retain exclusive rights to the biggest area of securities underwriting: corporate stock.</br></br>Safeguards: Affiliated banks and securities firms are barred from sharing the same name, logo, advertising or premises. The securities subsidiary will be required to inform customers they are not dealing with a federally insured bank.