FULL INTERSTATE BANKING GAINS IN ILLINOIS
Illinois Governor James Thompson will
likely sign a bill setting December 1, 1990, as the trigger
date opening the state to wider interstate banking, a
gubernatorial spokesman said.
    The bill passed both chambers of the Illinois legislature
this week by wide margins.
    The bill provides that Illinois banks and bank holding
companies can be acquired by similar institutions from any
state with a reciprocal law. Current Illinois law limits
interstate banking to six Midwestern states.
    The governor had supported a July 1, 1988, date for full
interstate banking. Large banking firms, particularly Citicorp
<CCI>, have lobbied for the earlier date.
    But legislation with the later date was approved in the
state's house and senate. The governor has the authority to use
an amendatory veto and pencil in an earlier trigger date.
    "I'm sure the bill will get his approval," the spokesman
said. "The only question is whether he will use his authority
to change the trigger date. He will hear from people who want
the different dates. I don't think he'll take action before
late summer."
 Reuter
