BANKING & FINANCE - Feb. 20, 1993
From Times Staff and Wire Reports
BankAmerica Cooperating in Trading Probe: BankAmerica Corp. said it is cooperating with federal and New York state authorities in an investigation into questionable trading practices at its Security Pacific Corp. unit. BankAmerica said an internal investigation into trading practices of Third World debt at Security Pacific did not turn up any evidence of wrongdoing. Security Pacific, which BankAmerica acquired in April, 1992, had shed its merchant bank business in December, 1990, about the time news reports surfaced about improper trading in Third World loans by a Security Pacific trader and others.
