OTHER NEWS - Aug. 17, 1991

Downey S&L; to Take Writedown: Pressured by regulators, Downey Savings & Loan said it would write down the value of its government securities by $16.2 million and put an additional $17.9 million into reserves for possible loan and real estate investment losses. The actions, prompted by a routine examination by the Office of Thrift Supervision, will result in the Newport beach thrift posting an after-tax charge of $32.4 million for the third quarter, ending Sept. 30. Downey’s operations are profitable and it still exceeds the three tough federal standards for capital adequacy, said David T. Hansen, the thrift’s chief financial officer.