Word: breather
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Thrifts have been gradually replacing those loans with adjustable-rate mortgages, or ARMs, which protect the institutions from unexpected rate increases. In addition, the steady decline of interest rates has given thrifts a breather by reducing their cost of attracting deposits. The welcome trend continued last week. The Federal Reserve Board cut the rate it charges its member banks from 8% to 7.5%. Several major banks dropped their bench-mark prime rate by half a percentage point to 10%, the lowest since 1978. The easing of rates has helped most thrifts make profits again. While about 85% of thrifts were...
...powerful Blue Devils, who a year ago got a mighty big scare from Harvard in an 89-86 Duke win, will use the Crimson as a breather from a hectic Atlantic Coast Conference schedule that's resulted in three losses in the last five games...
...Ramones: Too Tough to Die (Sire). These four unreconstructed New York City punks have been around so long it would be reasonable to assume they would need a breather. No way. This new record is heady evidence that the band has flourished during a career that began before the Sex Pistols and has survived what seems to be virtually mandatory punk burnout. They are as hot as ever, though, and still laying into those guitar chords like hardhats working rivet guns. They get occasional instrumental help-Jerry Harrison of Talking Heads turns a fine hand to synthesizers...
...efforts to promote West European political unity and on Bonn's views of East-West relations. But that does not fully explain the Chancellor's eagerness to become the first major West European leader to visit the President since his reelection. Another Kohl motive: to get a breather from the so-called Flick affair, a 33-month probe into alleged political payoffs that has become one of the worst political scandals in West German history...
...bulls, it turned out, were only taking a breather. On Thursday the interest rate on federal funds, which are reserves that banks lend to one another overnight, fell as low as 9.5% from an average of 10.27% the day before. The financial markets took this drop as a sign that the Federal Reserve Board, which influences the funds rate through the amount of money it supplies the banking system, was easing monetary policy and would allow the cost of credit to fall. That plus the good news about oil caused bond prices to surge and the stock market to stampede...