BANKING

Fed Chief Opposes a Single Bank Regulator: Federal Reserve Chairman Alan Greenspan shares the Clinton Administration’s goal of reducing regulatory costs but not its proposal for placing banks under a single regulator, he told the annual convention of the Independent Bankers Assn. of America. The supervisory structure needs to become more efficient and accountable but should not jeopardize the regulatory hierarchy, Greenspan said. Clinton has proposed a sweeping overhaul of regulatory agencies that would fold the supervisory functions of four agencies, including the Fed, into a single Federal Banking Commission.