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Operational Errors Boost Bank One's $100 Million Charge

NEWS

CHICAGO -- Bank One, the US's fourth largest bank, made a $100 million charge against operational errors and miscellaneous items when in mid-January it reported a $512 million net loss for fourth-quarter 2000.A Bank One spokesman said the operational errors related to "small items in a number of areas", which were put into the charge as part of a balance sheet clean-up. He declined to give further details.Bank One's fourth-quarter loss compares against net income of $411 million in the 1999