Word: deposited
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Dates: during 1980-1989
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...behind the economy." The comptroller's office is now examining the books of large banks two or three times a year, instead of just once. As a further incentive for prudence, the FDlC's Isaac has proposed that the premiums banks pay to the agency for deposit insurance should increase according to the proportion of their loans that are risky...
...turmoil has posed no significant risks for small depositors. When a bank collapses, the Federal Deposit Insurance Corporation reimburses them for up to $100,000 on their lost accounts. As it happens, about 500 U.S. banking institutions carry no federal insurance, and many of their depositors could suffer in case of failure. Nonetheless, says John S. Reed, chairman of New York's Citicorp ($145 billion), the largest U.S. banking company: "To the extent that we've had difficulties, the consumer has been very well protected." When Continental Illinois got into trouble, the Federal Government even guaranteed deposits...
...financial system in shambles, President Franklin Roosevelt in March 1933 closed all the nation's banks for four days to quell the panic. Institutions declared sound by federal and state officials were reopened, and Congress began writing new banking laws. The resulting Glass-Steagall Act established the Federal Deposit Insurance Corporation to guarantee the safety of savers' money and banned banks from conducting the lucrative but risky business of underwriting securities...
...Continental Illinois: "A modern run on a bank doesn't show up in lines at the teller windows, but in an increasing erosion of its capacity to purchase large blocks of funds in money markets." To ward off such electronic panics, many banks have tried to widen their deposit base to include a larger number of savers and to court better relations with big depositors...
...Episcopalians, DMS and its militant labor-union allies want to force the Mellon Bank and U.S. Steel to pump more money into the sagging local economy. Among its tactics: repeated harassment at worship services attended by executives and disruption of bank operations, notably by putting dead fish in safe-deposit boxes and skunk oil in ventilation ducts. Last week the noisome style of DMS culminated in the imprisonment of an activist minister...