dropping 5.47 percent or $2.20, following lack of action from the Ministry of Finance on the 6 0/40 issue.

The decision was expected at the end of October, but so far the silence from the Ministry appears to have led to the price of Bank of Bermuda falling to just $38.05 on Friday.

The index slumped by over 70 points over the week, taking it below the 1,900 mark for the first time in months.

Bank of Butterfield, however, gained 10 cents to close at $19.10 after several weeks of heavy trading.

Bermuda Commercial Bank dropped 25 cents or 3.85 percent to close at $6.25.

BF&M closed down 25 cents at $6.75 and BELCO lost $1.25, closing at $19.75.

The index closed down 3.71 percent or 70.110 points on a volume of 95,770 shares worth $2,326,521.50 and 180 bonds worth $171.90.