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Aiken Banks Won't Make Changes Yet On Passbook Rates
New York report notes passbook savings gains possible from deregulation but major banks such as Citibank and regional lenders indicate no current rate changes. Bank officials cite market conditions and cost of funds concerns while the 5.5 percent ceiling was removed. About 75 percent of American households hold passbook or statement accounts totaling roughly $305 billion as of February.
MENTIONED IN THIS ARTICLE
Aiken Banks
New York
Aiken
Becky Meets
Citizens and Southern Bank
Palmetto Federal Savings and Loan
Frank Hartley
Edna Inman
South Carolina National
le Duffie
Security Federal
Bob Schosberg
New York League of Savings Institutions
Stefanie Steel
Citibank NA
Citibank
Federal Reserve Board