Word: stanched
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Dates: during 1970-1979
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...deposit withdrawals. Provided Congress agrees-a big if-the subsidy plan could mean a $4.5 billion increase in S and L mortgage lending over several years, because each $1 of subsidy would generate as much as $10 or $15 in loans to home buyers. In a companion move to stanch the deposit drain, the Government raised the minimum denomination of Treasury bills from $1,000 to $10,000. Depositors have been shifting their savings from S and Ls and banks into the higher-yielding Treasury securities...