BANKING & FINANCE - Feb. 6, 1996

Daiwa Wants Judge to Decide Case: The Osaka, Japan-based bank, waiving a right to a jury trial, said it wants a U.S. judge to decide whether the bank is guilty of concealing a $1.1-billion trading loss at its New York branch from U.S. banking regulators. In court papers, Daiwa said it will forgo a trial by a 12-member jury in favor of letting U.S. District Judge Kimba Wood determine its fate. However, if federal prosecutors oppose Daiwa’s request for a nonjury trial, Daiwa must present its case before a panel. Prosecutors at the U.S. attorney’s office in New York declined to comment. Last week, the Federal Reserve Board approved Sumitomo Bank Ltd.’s acquisition of Daiwa’s U.S. assets.