Word: depositer
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...rate. This is the interest rate that one bank charges another for the overnight loan of money the borrower needs to have as reserves. The open-market desk manipulates the federal funds rate by buying or selling Government securities. When it buys securities, the cash it pays goes on deposit with a commercial bank, thus effectively adding reserves to the banking system and lowering the federal funds rate. Selling securities draws reserves out of the banking system and drives up the rate. How have Burns and his colleagues been using their powers? Liberals charge that the Federal Reserve has overemphasized...
...affair in Chiasso, a Swiss town on the Italian border, is a result of Switzerland's historic role as a haven for foreign money. For years, wealthy Italians had been lugging suitcases crammed with lire for deposit in Swiss banks; Crédit Suisse in Chiasso was a prime recipient. In 1975 the Swiss government became alarmed by the foreign-currency inflows that were forcing up the Swiss franc to unrealistic levels, harming Swiss exports. To discourage foreign depositors, the government slapped a 10% "negative interest" charge on large accounts held by non-Swiss...
...wealthy mobsters live like millionaires, Internal Revenue Service agents can ask discomfiting questions. Some Mafiosi have large sums in secret bank accounts overseas, most notably in Switzerland and Liechtenstein, as nest eggs in case they ever have to flee abroad. Other mobsters keep their escape money in bank safe-deposit boxes or hiding places called "traps." Anthony ("Fat Tony") Salerno, a gambler and loan shark who was indicted last week on charges of running a $10 million-a-year numbers operation in Manhattan, used to keep more than $1 million in small bills packed in shoe boxes stacked from floor...
...split it up, of course, and deposit it in numbered Swiss bank accounts...
...streetcar service. The use of private cars is so limited that there are no traffic jams or parking problems. In any case, the streets are swept bone-dry by thousands of snowplows. Giant "snow eater" machines called snegouborki scoop up the snow and dump it onto conveyor belts, which deposit it in trucks, which unload it into the Moskva River. As the first flakes fall, at any hour of day or night one can hear the scritch-scratch of individual snow shovels and brooms, generally woman-powered...