Word: deposit
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Washington's chief line of defense against inflation remains the nation's central bank, the Federal Reserve. It controls the money supply by manipulating key interest rates and telling private institutions belonging to the Federal Reserve System how much of the cash they have on deposit must not be lent out. Alas, this line is slowly crumbling. While 5,450 banks remain in the system, in the past 4½ years some 300 have left it. Most have been small banks, but there have been some big defectors too, among them Pennsylvania's National Central Bank, which...
...shrewdly put away dimes, quarters and half dollars minted before 1965; at year's end an original $1,000 in those almost pure silver coins was worth $16,300. But anybody who had put his money in a savings bank was a sucker; a $1,000 deposit declined in real value during the year to about $900, after inflation and taxes on the interest receipts...
...court battles were fought every where, by all sides. In Paris, Iran's Bank Markazi sued the French subsidiary of Citibank to release $50 million in depos its frozen since Carter's order. In London, Bank Markazi sued for the release of $1.8 billion on deposit with the Bank of America there...
This is the Piceance Basin, the heart of a geological formation containing the world's biggest known deposit of oil shale. Locked in the mottled rock is the energy equivalent of about 1.2 trillion bbl. of oil, or roughly 40 times the nation's present proven reserves of liquid petroleum...
...Orleans is a conservative town, its bankers an inbred bunch who do not cotton to outsiders. And, as Canizaro remarks, "for many years New Orleans was not pro-Italian." He put a $5,000 deposit on a downtown plot, then tried to borrow more to buy it. "There was enough income coming in from the property to service the debt if only somebody would lend me the money." The Establishment would not. Finally, he found a small bank to make the loan, and he started prospering. Canizaro...