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Proxy Statement
Investor Relations


triangle Note 1 - Summary of Significant Accounting Policies
triangle Note 2 - Investments
triangle Note 3 - Loans
triangle Note 4 -Short- and Long-Term Debt and Borrowing Agreements
triangle Note 5 - Cumulative Quarterly Income Preferred Shares
triangle Note 6 - Common and Preferred Shares
triangle Note 7 - Derivative and Other Off-Balance Sheet Financial Instruments
triangle Note 8 - Fair Values of Financial Instruments
triangle Note 9 - Significant Credit Concentrations
triangle Note 10 - Stock Plans
triangle Note 11 - Retirement Plans
triangle Note 12 - Income Taxes
triangle Note 13 - Earnings Per Common Share
triangle Note 14 - Operating Segments and Geographic Operations
triangle Note 15 - Lease Commitments and Other Contingent Liabilities
triangle Note 16 - Transfer of Funds from Subsidiaries
triangle Note 17 - Quarterly Financial Data (unaudited)



NOTE 16 - Transfer of Funds from Subsidiaries

The Securities and Exchange Commission requires the disclosure of certain restrictions on the flow of funds to a parent company from its subsidiaries in the form of loans, advances or dividends.

Restrictions on the transfer of funds exist under debt agreements and regulatory requirements of certain of the company’s subsidiaries. These restrictions have not had any effect on the company’s shareholder dividend policy and management does not anticipate any effect in the future.

At December 31, 1999, the aggregate amount of net assets of subsidiaries that may be transferred to the parent company was approximately $7.6 billion. Should specific additional needs arise, procedures exist to permit immediate transfer of short-term funds between the company and its subsidiaries, while complying with the various contractual and regulatory constraints on the internal transfer of funds.

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