MEMO: OUT-OF-STATE BANKS CHARGE SIGNIFICANTLY HIGHER FEES

WASHINGTON -- Fees charged by out-of-state banks are significantly higher than those at in-state banks, the Federal Reserve reports.

But in a report based on a 1994 survey of more than 1,000 banks and savings institutions, the Fed said average fees did not rise very much from 1993.

The Federal Reserve said Tuesday its study showed that about as many banks increased fees as cut them in 1994. But it said there were many cases in which services at banks were reduced in 1994. The opposite trend was found at savings associations.