Word: flowing
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...expects the new code, which carries penalties ranging up to $4 million for infractions, to halt completely the flow of tainted funds into Switzerland. But Swiss National Bank President Fritz Leutwiler, who has long crusaded for such reforms, hopes that the code will deter banks from actively assisting their customers in breaking national laws. Says he: "We are no longer assuming that every banker is a gentleman and that he observes the rules." Leutwiler speculates that the new code may even force the eventual closing of a "small minority" of lesser banks that have operated on the fringes...
...when an influx of foreign currency sharply forced up the value of the Swiss franc, the Swiss National Bank tried to slow down the flow by imposing a 10% quarterly negative interest rate on large nonresident accounts in Swiss banks. But most institutions got around the rule by accepting this nervous money in "fiduciary" (trust) accounts to be invested in Eurodollar deposits-a safe investment yielding modest returns. The safety of the investments was crucial, since by Swiss law the banks could not issue guarantees on the accounts without incurring a 35% withholding...
Export Disadvantage. Increasingly, there are indications that among the Swiss public banking is no longer quite the hallowed institution it once was. Manufacturers feel that the flow of funds into Switzerland has overvalued the Swiss franc and thus put Swiss textiles, watches and machinery at a disadvantage in export markets. Says Swiss Accountant Max Fluri: "Our banking sector has grown taller than the Swiss Confederation. For some time, it has been bringing the country more harm than good...
...Play the post positions. Posts one through three win more often than four through eight, but not often enough to stop the cash flow. A good losing proposition...
Still, as they say in Southern California, one must go with the flow. In Slow Days, Fast Company that flow is generated by Babitz's fresh, distinctive sense of place: "Outside it's turned pink and the jacaranda tree is magenta, and next door the fourteen-year-old Mexican girl has finished her paper route and swung her long California-bred legs off her bike and now throws a Frisbee at her brother's head, expertly...