Word: banke
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Dates: during 1960-1969
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...first result of the 51% discount rate, highest since the 6% rate posted by the New York Reserve Bank for three months in 1929, was a rush by commercial banks to lift their minimum lending rate from 6% to a record 61% annual interest. That "prime rate," as bankers call it, applies to borrowing by their bluest-chip corporate customers. Other interest rates throughout the economy scale upward from that level. Bankers predicted that loans will now grow costly enough to crimp small businessmen, capital-goods industries and local government construction projects. Worst hit, as usual, will be new housing...
Tighter Cinch. Along with its discount-rate boost, the Federal Reserve lifted, from 51% to 61%, the maximum interest that commercial banks are permitted to pay on large time deposits-money left with a bank for a specified period. The new ceiling applies to "certificates of deposit" of $100,000 or more with maturities of six months or longer. By this action, the Fed hopes to prevent sharp deposit losses, which would further disrupt the already nervous financial markets...
...stabilized. During the first two months of this year, production was up about 5.5%. In March, crude-steel output hit an alltime high of 3.6 million tons. Domestic auto sales have been slower to recover, but carmakers predict an increase of 12% this year. Even the staid Deutsche Bank has been inviting Germans to loosen their purse strings. "You can go out and buy those things you put off last year," the bank said last week in a newspaper advertisement. "Perhaps a new car, in order to enjoy the nice season and the economic bloom...
...that it is building on the east bank of the Colorado River, 235 air miles east of Los Angeles...
...composed of two closely spaced peaks. The peaks were so sharp, he said, that the signal may originate from an object as small as a few hundred miles across; if pulsar 3 were much larger, the peaks would be gradual and less distinct. Using England's Jodrell Bank radio telescope, Astronomer Graham Smith discovered that the radio waves from pulsars are polarized, indicating that they pass through a magnetic field on their way to the earth...