
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, July 27, 1993                   TAG: 9307270116
SECTION: BUSINESS                    PAGE: B5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

NATIONSBANK GETS OK TO TRADE IN CORPORATE STOCKS, BONDS

NationsBank may sell and trade in companies' bonds and stocks in what could be a major expansion of the banking giant's business, the Federal Reserve ruled Monday. Charlotte, N.C.-based NationsBank said it will be the first major bank holding company outside New York able to arrange stock and bond sales for corporations. J.P. Morgan and Bankers Trust are the only other banks that can do so.

NationsBank, the country's fifth-largest, plans to concentrate on arranging bond sales for companies over the next year to 18 months, said James W. Thompson, vice chairman of NationsBank. He said dealing in stock will come later, pending further regulatory review.

NationsBank also plans to arrange asset-based bonds - securities backed by pools of mortgages. Securities firms have arranged similar bonds for pools of credit card receivables, and asset-backed securities are among the fastest-growing parts of the bond market. - Newport News Daily Press

by CNB