Next, in overseeing banking and securities, global exchanges and national regulators need to draw a line between legitimate risk and reckless endangerment.

He succeeds Bruce W. Van Saun, a vice chairman, who will now oversee asset management, private banking, global markets and securities lending, in addition to capital markets and corporate development.

The plan, if accepted during the current session of the National People's Congress, would create independent American-style regulatory bodies to oversee banking, state-owned assets, food and drugs.

Mr. Sarrazin will be replaced by Bernhard Walter, who has spent his career at Dresdner and now oversees corporate banking for Germany and Eastern Europe.

From 1989 to 1992, Mr. Tsuchida directed the finance ministry's banking bureau, overseeing banking in Japan as nonperforming loans, with borrowers unable to stay current on their payments, started to balloon.

Merging the operations of big bank supervisors has not sat well with the heads of any of the regulatory agencies currently overseeing banking.

Reporting to Mr. Coulter will be two presidents - Mr. Lockhart, and Michael J. Murray, who oversees banking with corporations.

His official portfolios were to oversee finance and banking.

In addition to the credit card area, he now also oversees private banking, which previously reported directly to Mr. Reed.

Officials at the government agency that oversees banking, the Financial Supervisory Service, said that an exchange of debt for equity was the best way to save the company.