Word: depositer
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...discretion of top officials as bribes to gain foreign contracts, as political contributions or simply as untaxed executive bonuses. What happened to the I.R.I, money last week was a mystery. A total of $26 million was found by police later in the week in four Milan bank safe-deposit boxes, but the rest is still missing. The incident fueled government critics, who called for an investigation of I.R.I, and its methods...
First Chicago officers pointed out that in order to avoid dragging out the problems, they wrote off even more loans than regulators had suggested. William Isaac, chairman of the Federal Deposit Insurance Corp., praised First Chicago's action. "The bank's bitten the bullet," he said, "and they should be commended...
...worth more than $2 billion into F.C.A. since July to offset withdrawals by jittery depositors, are angry about the parting payment and are said to be pressing F.C.A.'s board to recoup the cash. That, however, will not be easy. Knapp arranged for the $2 million to be deposited in a foreign account. The money is probably beyond the Breach of U.S. authorities and F.C.A. share; holders. While Government regulators back home seek new ways to keep F.C.A. afloat, notably by backing the company's plan to sell $2 billion worth of new certificates of deposit, Knapp last...
Knapp's successor will be William Popejoy, 46, a longtime industry executive who was president of American Savings before F.C.A. bought the thrift in 1983. Popejoy will have no time to ease into his new job. F.C.A. reported on Aug. 15 that it has certificates of deposit worth about $15 billion that mature by the end of September. Popejoy must quickly convince investors not to pull out all that money...
...situation at F.C.A. could become critical during the next month, as $15 billion in the company's certificates of deposit comes due. If all that money is not reinvested, the company may find itself in serious trouble. Said a senior Treasury Department official last week: "We're watching it very, very closely. We're deeply concerned." F.C.A. is not alone among S & Ls in a bind. Since the beginning of the year, Government regulators have forced nine failing S & Ls to merge with larger institutions...