Word: citibankers
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Dates: during 1970-1979
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...loan was approved. According to Lance, the memo referred to a "hoped-for correspondent relationship" with NBG and an NBG deposit that would be "expressed as a percentage" of the loan to him. Within a few weeks the NBG indeed shifted its correspondent account in New York from Citibank to Manufacturers Hanover, depositing $250,000; later the deposit totaled as much as $ 1.5 million...
Should a bank grant a personal loan to the head of another bank that makes an interest-free deposit? Said a high officer of one of Manny Hanny's competitors: "Citibank wouldn't do it. Chase Manhattan wouldn't do it. Morgan Guaranty wouldn't do it." Now Comptroller Heimann will assess whether or not anything was improper. His investigation has been expanded to include all of Lance's loans from NBG correspondent banks -four of the five loans that...
...bankers and politicians round the world almost unanimously applauded Witteveen's initiative. Irving S. Friedman, senior adviser for international operations at Citibank, has gone so far as to advocate an increase in total IMF resources to a staggering $100 billion. Says he: "I am not looking at what might be enough in 1977.1 am looking at what is going to be enough...
...vast balance of payments surpluses piled up by members of the OPEC oil cartel. In particular, Saudi Arabia, Kuwait and the United Arab Emirates have been unable to spend their new-found wealth fast enough, and they have deposited enormous sums in such major U.S. banks as Citibank, Chase Manhattan, Morgan Guaranty and Bank of America. Triffin reports that "at the end of last year, general monetary liabilities of the U.S.-including foreign deposits in U.S. banks and their overseas branches, as well as Treasury obligations purchased by foreigners -amounted to $280 billion, almost five times as large as they...
...tighter money policy is already showing up in higher short-term interest rates-to which the stock markets are keenly sensitive-as well as in a rise in the prime lending rate that banks charge their best customers. At week's end New York's Citibank raised its prime one-quarter point, to 6¾%, the second such raise in two weeks...