Word: deposited
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Dates: during 1980-1989
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...even that effort proved too small to keep panicky corporate customers in the U.S., Europe and Japan from withdrawing $8 billion a day in deposits. By week's end the Federal Deposit Insurance Corporation and private lenders had to pump $2 billion directly into Continental. Though it normally does not insure amounts of more than $100,000, the FDIC went so far as to pledge that all the bank's depositors and creditors would be "fully protected." In addition, the Federal Reserve Board, which had also been supplying credit to Continental, promised to continue doing so until...
...that has plagued Switzerland for years. Argentina's Juan Perón, the Shah of Iran and Nicaragua's Anastasio Somoza had large Swiss accounts in the past. Among current world leaders, Zaïre's Mobutu Sese Seko is believed to have substantial holdings on deposit. Swiss banks have been a haven for foreign capital since the French Revolution. The current rules on confidentiality were set up in 1934 to protect Jews fleeing Nazi Germany...
...bankers had tried to head off the referendum by tightening their procedures over the past few years. They agreed not to encourage the deposit of funds fleeing other countries. Moreover, new customers were required to go through a thorough identification process intended to discourage unsavory characters. But the gnomes have done little to change an old German saying: "Money alone does not bring happiness. You must have it in a Swiss bank." On Sunday, it appeared that the Swiss had voted by a 70% margin to keep their accounts both happy and secret...
...defoliant according to the military's instructions. Nonetheless, the companies agreed to place $180 million into a fund that will be used to compensate victims and their families. The fund is expected to last for 25 years. With interest, currently accruing at $61,000 a day, the initial deposit could result in payments totaling as much as $750 million. Judge Weinstein plans to hold hearings to allow comments from others before approving the negotiated agreement. If, as expected, the settlement is upheld, the judge will design and oversee a system that will award payments to veterans and their families...
...that Continental was about to fail and that federal officials were trying to persuade another, and healthier, bank to buy it. Dubious as it was, the news managed to cast a long shadow over the whole banking industry. Jittery traders scrambled to sell bank-issued certificates of deposit and rushed to seek safety in U.S. Treasury securities. Dealers in other markets temporarily lost confidence in the rising dollar and started bidding up the price of gold. Even the porkbellies market reacted, and prices fell because Continental is a big lender to commodities traders. Some traders apparently helped stir...