NY -- Standard&Poor's CreditWire 12/18/1998 – Standard&Poor's today placed its ratings on National Bank of Canada on CreditWatch with negative implications, reflecting concerns for the bank's macro business strategy, certain performance results in its brokerage operations, and risk management practices. For National Bank of Canada (National), 1998 was a year marked by significant changes. National's traditional banking businesses continued strong, as evidenced by double-digit loan growth in both the commercial and consumer portfolios. Yet management recognized potential weaknesses in trust activities, the bank experienced significant mark-to-market losses in its brokerage house and investment portfolio, and loan loss reserves for its U.S. operations needed a boost of C$40 million. After reevaluating future prospects for General Trust, National
