The bank debt for Owens Corning and Federal-Mogul Corp. inched about two to three points higher last week on the rumor that there is a proposal in the works that will resolve the disputed aspects of the Senate's asbestos liability legislation. Dealers said Owens Corning bank debt was trading in the 62-64 range and Federal-Mogul was actively changing hands in the 76-77 context last week. "It's rampant speculation at this point," said one trader, regarding buzz around the proposal. Calls to Owens Corning and Federal-Mogul spokesmen were not returned by press time.