Highlights of President's Banking-Reform Package

THE following are key provisions of the banking-reform package that the Bush administration unveiled this week: Reduce overexpansion of deposit insurance.

Allow interstate banking.

Permit commercial and industrial businesses to own banks.

Allow well-capitalized banks to enter the insurance and securities business.

Limit individual deposit-insurance coverage to $100,000 per bank, plus another $100,000 per bank for a retirement account.

Conduct an 18-month study of the costs and benefits of moving toward a systemwide $100,000-per-person insurance cap.

Give the Federal Reserve supervision over all state-chartered banks and their holding companies.

Establish a new Federal Banking Agency to oversee all national banks and their holding companies, as well as the Office of Thrift Supervision.

The Federal Deposit Insurance Corporation will focus on insurance and resolution of failed institutions.