Word: interests
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...lars are outside the U.S., the bank is free from Federal Reserve rules that require it to keep as much as 16.25% of its U.S. demand deposits frozen rather than loaned out. Since this free dom lowers the bank's costs, it can pay perhaps 1% more interest on the dol lars deposited with it abroad than in the U.S., and it can offer loans at lower rates...
...foul-up was not amusing to people who lost millions during October in stocks and bonds. When the overly inflated money numbers were first published, markets plunged for fear that the Fed would rapidly tighten credit and push up interest rates. The nation's central bank responded on cue by draining reserve funds from the banking system...
...money funds invest not in stocks or gold or commodities but in high-quality, high-interest bank certificates of deposit, commercial paper, Treasury Bills and other U.S. Government securities...
...only by rich people, corporations and institutions looking to park their idle cash. This discrimination has been ended by the swelling number of money funds that have been formed by mutual fund companies and brokerage firms to pool small investors' assets. Since the returns rise along with surging interest rates-and the highest bank prime lending rate rose to 15¼% last week-money market funds are booming. About 75 such funds now handle nearly $40 billion in assets, way up from $11 billion in January and only $4 billion early last year. William Donoghue, publisher of Donoghue...
Most funds demand a minimum initial investment, which generally ranges from $500 to $5,000 but can be partly withdrawn once the account is open. The funds make money for themselves by paying out to shareholders slightly less interest (usually one-half of 1%) than the investments earn. One of the most appealing features is liquidity. Nearly all offer instant withdrawal without penalty, and most allow shareholders to write checks to third parties against their investment balance, thus ensuring that savings earn interest right up to the day the check is presented for payment. Still others offer credit lines...