Word: deposite
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...savings institutions, which is less than half the current rate of inflation-and much less than a higher-roller gets for investing $ 1,000 or more in a money market mutual fund. The small saver's squeeze is summed up in a Citibank anti-ceiling advertisement: "Deposit $500 with us today and we'll give you back $475 next year...
Harvard's decision last fall to sell short-term certificates of deposit in Morgan elicited no public reaction at all from the company...
...proposals will be an eight-year "rising rate" certificate of deposit in amounts as low as $500. The interest will start at 6% (6.25% in savings banks) and rise gradually to 8% (8.25%) over five years; a saver who leaves $500 on deposit over the full eight years will get $386.17 in interest, vs. $244.06 in a regular 5% bank account. Savers will also be able to buy a five-year certificate pegged to the average five-year Treasury Note rate, currently 9.2%; interest on the new certificate will be 1.25% less than that rate, or 1% less if bought...
Paul Samuelson, 63, economist, Belmont, Mass. He points to studies going back to the 1920s to show that "putting money out at the shortest intervals has been the best hedge against inflation." So Samuelson recommends that investors place their cash in six-month certificates of deposit in savings banks; or in the money-market funds-open-ended mutual funds that invest in short-term securities such as certificates of deposit, commercial paper and Treasury bills-that offer check-writing privileges...
OPEC would also suffer. The oil producers are paid in dollars for their exports, and since 1973 they have accumulated some $60 billion in greenbacks that are on deposit with commercial banks, principally in the London-based Eurodollar market. Billions more are invested in Treasury bills, stocks, and real estate throughout the U.S. The whole international monetary system, which has been the basis of postwar growth and prosperity, could be plunged into crisis if the banking system is swamped by a deluge of dollars...