Word: holdings
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Dates: during 1970-1979
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...require banks to keep a certain amount of money in reserve for every dollar in loans to customers, banks that want to increase their lending sometimes turn to Federal Reserve discount funds to do so. Pushing up the cost of those funds discourages banks from borrowing and thereby helps hold down the expansion of credit...
...Wall Street, however, about all that nervous traders could make of the Fed's complex announcement was that interest rates would be rising. That is especially bad news for investors who hold shares of stock bought on margin with money borrowed from brokers at floating rates of interest. Wary of just how high those rates might climb, margin holders along with smaller investors began selling in earnest on Monday, pushing the Dow down 13.57 points...
MORTGAGE LOANS: Interest rates averaged 11.15% in early September, and are heading higher. Many bankers predict that they may reach 14% by year's end. But in 24 states, including Illinois, New York and Texas, usury laws hold rates to 12% or less. Lenders there are likely either to cut back on making home-buying loans or attach tighter conditions to them. A typical instance: First Federal Savings & Loan Association of Chicago has just shortened the repayment period on all mortgage loans to 25 years from 29 years, and now requires a minimum 25% down payment, vs. 20% formerly...
Carter's press conference ended a hiatus of nearly three months, despite his promise on taking office to hold two such Washington meetings a month. In an auditorium jammed with eager reporters in the Executive Office Building, the President seemed uncommonly wary. He passed up any opening statement and virtually challenged his inquisitors to try to pull any news out of him. With the Florida caucus a few days off, they responded by focusing eleven of their 19 questions on the 1980 presidential campaign and on the allied theme of the nation's economic health...
...believes in a God who has revealed very specific teachings, known collectively as "the deposit of faith," and that no Pope is in a position to change them. But what will be the results if no change occurs? Liberals fear that despite the enormous regard in which multitudes hold this remarkable new Pope, his hard line will drive more Roman Catholics out of the church and discourage men and women from entering the priesthood and the religious orders. The competing theory, heard increasingly in the Vatican, is that churches that cater to contemporary notions in order to maintain church membership...