Word: citibanker
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This oil-debt game is being played out in the arcane and complex world of international finance. There, large multinational banks such as the U.S.'s Chase Manhattan and Citibank, West Germany's Dresdner and Britain's Barclay perform two vital and interrelated functions. Operating largely from London's money center, the big financial institutions have first of all provided a safe and secure place for Croesus-rich oil exporters, particularly Kuwait, the United Arab Emirates and Saudi Arabia, to park their unspent petro-profits, which by now amount to over $90 billion. The security...
...Citizens & Southern National Bank: "There has been no tightening of money at C & S. Any customer who meets our standards for a credit card will be issued one. We could make more loan money available this year than last if the demand were there." At New York's Citibank the average card customer in 1978 used about 38% of his available Visa credit line, but last year that figure rose...
...abandonment and especially condomania. In Chicago 60,000 leased apartments have converted to condominiums since 1963, creating a severe housing crunch in parts of the city, notably the fashionable Near North Side. Last year 12,000 New York apartments went cooperative. The trend may accelerate as a result of Citibank's announcement last week that it was making $1 billion in loans available for houses and coops...
...more controversial move was made by Sotheby's last summer. The company announced that it had entered into an agreement with Citibank, the second largest banking organization in the U.S., to assist the bank's millionaire clients in acquiring artworks for investment. Though Sotheby's insists that the arrangement contains sufficient built-in checks and balances to dispel any suspicion of conflict of interest, many people in the art world are skeptical of any deal whereby an auction house may in effect end up supporting its own market. Says David Bathurst, Christie's New York president...
Walter B. Wriston, Citibank chairman, joining a coalition of chief executives who hope to increase business influence in New York: "In Pittsburgh, you can get 20 guys in a room and build the Golden Triangle. In New York, you can't get 20 guys to fix a parking ticket...