Business & Finance: Banking Week

Notable in banking developments of last week were a deal, a rumor, a record.

Deal. Unusual was the transaction by which a bond was established between Transamerica Corp., giant Giannini-founded holding company, and Union des Mines, large French industrial bank. Each gave the other a substantial but minority stock interest; officials of each will be invited to join the other. The deal will give Transamerica, which already controls Milan's Banca d'America e d'Italia, association with the French electrical, metal, chemical and coal industries.

Rumor. In anticipation of a repeal of branch-banking restrictions, two...

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