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Five Senators Met With District Bank

On Disputed Appraisals at Lincoln

berwura Mr. Keating, who rem American Continental Corp., Phoenix, and the regulator craters on $167 million in additional loss reserves the FHLB AN Lincoln to set aside for loans and investments on which the appraisals are in dispune.

Robert J. Kielty, general counsel for Lincoln, refused to confirm the meeting between the regulators and Senators (See editorial p

took placp. He cited the "confides of the regulatory process.

The two-hour meeting on the influential Mr. Kasting's problems w interrupted voice so the Senators could vets on a bill to provide help for the bomeins

Sea. Cranston, who was managing the legislation on the Senate floor, did not attend the meeting in Sen. DeConcia's office, but sepped by briefly to excuse hin and say be wanted regulators shared the other Senators' meETE. I think the basis ob

Agency MBS Sale at FCA? here to love that he

Mr. Wall suggested that healthy institutions that are purchased by banks could www the care for later acquisitions of troubled thrifts from the FSLIC.

One recent acquisition for this purpose was Western Federal Savings and Loan Amediation, San Mateo, Calf, bought by an investor group headed by former Tom Carrom Willem Ciman sad farmer FUI 99 beim Burton Wome

sold through an agency (pably sicher
the Pederal Home Lana Mertinge Corp. or
the Federal National Mortgage Associe-
bon) the agency could get a better price for
the MBS holding

Mr. Martia, in an interview with National
The News, ad that the breakup plas
developed by advis to FCA would mean a
much lower cost to the Federal Savings and
Loan Insurance Corp of resolving the
problems posed by FCA than would a min of
the nation's largest thrih to Ford Motor Co.
Estimates of the cost of the two plan vary
widely.

A Wall Street source mys that under "a interest rate scenario" the Ford plan would cost the FSLIC $1.1 billion less than the breakup.

Mr. Martin estimated the Ford plan at a
$3.5 billion-10-14 billion com to the FSLIC.

Sourers familiar with the proposal mid
the present value cont is less than half that
amount, with acroal outlays proposed of
about $200 million annually for 10 years.
Mr. Martin did not challenge these
bers but made two points.

As of last work, be mys, Ford had not
made a wrines proposal

And, Ford has been willing to "g tea onling on PSLIC outlays

Mr. Martia dd not dispute markt e-
mate that FCAY mortgage-curity boldings
have declined in value by $2 billion or more
(Continand on page 20

ARM REMICS
Earn Approval

By JEFFREY TUCHMAN
WASHINGTON.-The Tressery De-
partment has imend regulations allowing for
ior of Real E MIN