Word: citibanker
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Ameral said the Corporation presently holds certificates of deposit (short term bonds) in five national banks: $17 million worth in Chemical Bank of N.Y.; $13.5 million in Citibank of N.Y.; $2 million in Continental Illinois; $11 million in Manufacturers Hannover; and $5 million in Wells Fargo Bank of San Francisco...
...officials cited David Edwards, a former employee of Citibank, who alleges that Citibank and other major banks capitalized on the dollar's weakness by selling dollars one day, then buying them back the following day after they declined in value...
Squeeze gave way to ouch last week as Chase Manhattan and Citibank lifted their prime lending rate to businesses from 9¾% to 10%, the highest since January 1975. Other banks are expected to follow suit. The action, reflecting a steady tightening of money by the Federal Reserve Board, substantially increases the risk of a credit crunch and a deeper economic downturn next year than most experts were forecasting a few months ago. The hike is certain to pull up other rates and dampen spending by boosting the cost of corporate loans and, eventually, of consumer borrowing...
...former Treasury Department Under Secretary and U.S. Ambassador to NATO during the Eisenhower Administration; of a heart attack; in Washington, D.C. Schooled as a statistician, Burgess worked as a banker in New York for more than 30 years, first at the Federal Reserve, then at National City (now Citibank), before joining the Treasury in 1953. As Under Secretary for Monetary Affairs, he favored tight money policies, a balanced national budget and the gold standard. He resigned in 1957 when appointed NATO Ambassador, serving until...
...rush into traveler's checks has inspired some odd alliances and rivalries. Although Citibank issues Master Charge cards and is a member of the consortium that licenses the Master Charge system, its parent Citicorp has gone to court to try to block Master Charge's entry into traveler's checks, charging unfair competition. Citibank's argument: Master Charge, through the banks that issue the card, would be able to control which traveler's checks the customer bought, thus shutting Citibank out of the business...