Word: ls
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
That was the reassurance depositors needed. When a handful of the 69 closed S and Ls reopened late last week, no new runs started. Generally, customers came in only to get walking-around money. At the Savings One Association in Dresden, a longtime customer deposited $15,000 as a show of support. Said Helen Mershon, a teller at the Southern Ohio Savings Association in St. Bernard: "Some of our customers just came in to say hello...
Ohio's trauma probably further eroded the public's confidence in the safety of its deposits. "This problem with S and Ls is getting real widespread," said Accountant Bruce Humpherys, a thrift depositor in Pittsburg, Calif. "I'm wondering what's happening to our whole financial structure." The concern showed up dramatically in Pollster Albert Sindlinger's weekly survey of consumer sentiment. The percentage of people voicing confidence in the economy fell in one week from 50.4% to 42%, the steepest drop in the poll's 30-year history. "I wouldn't say consumers are panicked," said Sindlinger, "but they...
...because Home State's failure threatened to exhaust a private insurance fund of $130 million that covers deposits at 70 of Ohio's nearly 300 thrifts. Crowds of up to 1,000 people, some equipped with lawn chairs and portable TV sets, camped overnight in front of S and Ls, hoping to claim their money before it was all gone...
...from the Federal Savings and Loan Insurance Corporation, the thrift-industry counterpart to the FDIC, were in California to liquidate the San Marino Savings and Loan Association, whose failure the previous week threatened to cost the FSLIC $193 million, a record loss. So far this year, nine S and Ls have failed, and an additional 17 have been merged with stronger competitors. FDIC Chairman William M. Isaac, who has told the White House that he would like to leave office early next year, warns that if interest rates head back up and the economy weakens, next year could be just...
...America (assets: $32.7 billion). The company is the parent of American Savings and Loan Association, the nation's largest thrift institution. Knapp says that he resigned voluntarily, but many industry observers believe he was pressured to leave by the Federal Home Loan Bank Board, which regulates S and Ls. Knapp's biggest mistake was to make too many fixed-rate loans that became unprofitable when interest rates rose in the spring. Partly for that reason, F.C.A. lost $107.5 million in the second quarter. Since July, jittery large investors have withdrawn more than $1 billion from F.C.A...