SA/FT timing for someone graduating in 4 1/2 years

My fellow monkeys,

I am doing a dual degree in a target and need an extra semester to finish both degrees (graduating in Dec 2013). I will be entering my third year next semester. My questions are:

1. Will banks consider my rising senior's summer as my penultimate year? I ask this because most banks require interns to be in their penultimate year for an SA, is that right?

2. When does FT normally start for Spring grads? From what I've heard, training programs for fresh FTs are usually in July - August. If I graduate in Spring, will that mean I have to wait until the training program starts, or will I be able to work first as soon as I graduate?

Thanks a lot!