TAUNUS CORPORATION
31 West 52nd Street
New York, New York  10019


Linda L. Assali
Director
Telephone: (615) 835-2901


                                       February 7, 2001


Securities and Exchange Commission
SEC Document Control
450 Fifth Street, N.W.
Washington, DC  20549
Attn:  Filing Desk


Dear Sirs:

     Re:  Filing of Schedule 13G on
          Countrywide Credit Industries Inc.


Pursuant to Rule 13d-1 of the General Rules and Regulations under
the Securities Exchange Act of 1934, the following is one copy of
the Schedule 13G with respect to the common stock of the above
referenced corporation.

Please acknowledge your receipt of the Schedule 13G filing
submission through the EDGAR-Link System software, by E-Mail
confirmation.

                                        Sincerely,



                                        Linda L. Assali

Enclosures













                       UNITED STATES
           SECURITIES AND EXCHANGE COMMISSION
                  Washington, D.C.  20549

                       SCHEDULE 13G

         Under the Securities Exchange Act of 1934
                   (Amendment No. 1)

              Countrywide Credit Industries Inc.
          _______________________________________
                      NAME OF ISSUER:
              Common Stock (Par Value $.05)
          _______________________________________
               TITLE OF CLASS OF SECURITIES
                         222372104
          _______________________________________
                       CUSIP NUMBER
                      December 31, 2000
          _______________________________________
          (Date of Event Which Requires Filing of this Statement)


     Check the appropriate box to designate the rule pursuant to
     which this Schedule is filed:

          [X]  Rule 13d-I(b)

          [   ]     Rule 13d-I(c)

          [   ]     Rule 13d-I(d)




1.NAME OF REPORTING PERSONS
  S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

    Taunus Corporation

2.CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
          (A)  [ ]
          (B)   [ ]


3.SEC USE ONLY


4.CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware

NUMBER OF     5. SOLE VOTING POWER
SHARES
BENEFICIALLY  6. SHARED VOTING POWER
OWNED BY
EACH          7. SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH   8. SHARED DISPOSITIVE POWER


9.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON



10.CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(9) EXCLUDES CERTAIN
SHARES *
                    []

11.PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9




12.TYPE OF REPORTING PERSON

     HC,CO










Item 1(a).     Name of Issuer:

          Countrywide Credit Industries Inc. (the  Issuer )

Item 1(b).     Address of Issuer's Principal Executive Offices:

          The address of the Issuer's principal executive offices
          is 4500 Park Granada, Calabasas, CA 91302-1613

Item 2(a).     Name of Person Filing:

          This statement is filed on behalf of Taunus Corporation
          (the Reporting Person ).

Item 2(b).     Address of Principal Business Office or, if none,
Residence:

          The principal place of  business of the
          Reporting Person is 31 West 52nd Street, New
          York, New York, 10019.

Item 2(c).     Citizenship:

          The citizenship of the Reporting Personis set
forth on the cover page.

Item 2(d).     Title of Class of Securities:

          The title of the securities is common stock (the
Common Stock ).

Item 2(e).     CUSIP Number:

          The CUSIP number of the Common Stock is set forth on
the cover page.

Item 3.  If this statement is filed pursuant to Rules 13d-1(b),
         or 13d-2(b) or (c), check whether the person filing is
         a:

         A.    Taunus Corporation:

         (a)   [   ]     Broker or dealer registered under
                section 15 of the Act;

         (b)   [   ]     Bank as defined in section 3(a)(6) of
                the Act;

         (c)   [   ]     Insurance Company as defined in
                section 3(a)(19) of the Act;

         (d)   [   ]     Investment Company registered under
                section 8 of the Investment Company Act of 1940;

         (e)   [   ]     An investment adviser in accordance with
                Rule 13d-1 (b)(1)(ii)(E);

         (f)   [   ]     An employee benefit plan, or endowment
                fund in accordance with Rule 13d-1 (b)(1)(ii)(F);

         (g)   [X]       A parent holding company or control
                person in accordance with Rule 13d-1 (b)(1)(ii)(G);

         (h)   [   ]     A savings association as defined in
                section 3(b) of the Federal Deposit Insurance Act;

         (i)   [   ]     A church plan that is excluded from the
                definition of an investment company under section
                3(c)(14) of the Investment Company Act of 1940;

         (j)   [   ]     Group, in accordance with Rule 13d-1
                (b)(1)(ii)(J).

          If this statement is filed pursuant to Rule 13d-1 (c),
          check this box.   [   ]

Item 4.   Ownership.

          (a)  Amount beneficially owned:

           (b) Percent of class:

          (c)  Number of shares as to which such person has:

               (i)  sole power to vote or to direct the vote:

                (ii)     shared power to vote or to direct the
               vote:

                (iii)    sole power to dispose or to direct the
disposition of:

                (iv)     shared power to dispose or to direct the
disposition of:

Item 5.   Ownership of Five Percent or Less of a Class.

          If this statement is being filed to report the fact
          that as of the date hereof the reporting person has
          ceased to be the beneficial owner of more than five
          percent of the class of securities, check the following
          [X].

Item 6.   Ownership of More than Five Percent on Behalf of
Another Person.

          Not applicable.

Item 7.   Identification and Classification of the Subsidiary
          Which Acquired the Security Being Reported on by the
          Parent Holding Company.

          Not applicable.

Item 8.   Identification and Classification of Members of the
Group.

          Not applicable.

Item 9.   Notice of Dissolution of Group.

          Not applicable.

Item 10.  Certification.

          By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business and were
not acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.





                         SIGNATURE

          After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.

Dated:  February 7, 2001


                                TAUNUS CORPORATION



                                By:    /s/ James T. Byrne,
                                   Jr.
                                   Name:   James T. Byrne, Jr.
                                   Title:            Secretary