Word: citicorp
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...notes would be sold not by the bank itself but by its parent holding company, Citicorp, thus neatly getting around federal regulations limiting the interest that banks-but not bank holding companies-can pay to small savers. For a minimum $5,000 initially, a saver could buy notes on which the interest rate would be changed twice a year. Each time it would be set one percentage point above the going rate on Treasury bills, a favorite investment of the rich. Although the interest rate on Treasury bills can go down as well as up, even in an inflationary environment...