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NATIONSBANK RECEIVES PERMISSION FROM THE FED TO UNDERWRITE DEBT AND EQUITY SECURITIES

 CHARLOTTE, N.C., July 26 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) today received approval from the Board of Governors of the Federal Reserve System to underwrite and deal in corporate debt and equity securities through its institutional securities subsidiary, NationsBanc Capital Markets, Inc. NationsBank becomes the first major U.S. bank holding company outside of New York to receive Federal Reserve permission to underwrite debt and equity securities.
 NationsBank East Chairman James W. Thompson said the company will concentrate on debt financings for its customers during the next 12 to 18 months.
 Equity activities are expected to begin later, pending further regulatory review.
 "This is an important step in our strategy to deliver value through increased capabilities for our corporate and institutional customers," Thompson said. "The ability to meet the financing needs of our clients on a much broader basis is key to a relationship-driven approach to our customers. We can now assist these clients in raising money from the world's debt markets."
 A new debt capital markets team is being established at NationsBank. This group will be involved in a broad spectrum of debt underwritings for NationsBank corporate customers. In addition, the company plans to underwrite and trade in asset-backed and other types of debt securities.
 In a related strategic move, NationsBank of North Carolina completed on July 6 its purchase of the Chicago Research & Trading Group, Ltd., one of the world's largest options market-making and trading firms.
 NationsBank Corporation is the fifth-largest banking company in the United States with more than $124 billion in assets and full-service banks in 9 states and the District of Columbia.
 -0- 7/26/93
 /CONTACT: Tim Lubinsky of NationsBank Corporation, 704-386-4340/
 (NB)


CO: NationsBank Corporation ST: North Carolina IN: FIN SU:

CM -- CH023 -- 5932 07/26/93 17:43 EDT
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Publication:PR Newswire
Date:Jul 26, 1993
Words:297
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