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Change Figures To Boost Sums in Savings Accounts
The Federal Reserve Board rules raise the maximum interest on savings to 4% for over a year and 3.14% for under six months, starting Jan 1. Banks, savings and loan associations, and savings banks race to adjust rates as competition widens. Chase Manhattan and others announce higher returns while savers edge toward better yields.
MENTIONED IN THIS ARTICLE
Richard Hoenig
New York
Federal Reserve Board
California
Savings and Loan Associations
Savings Banks
Federal Reserve and
Federal Deposit Insurance Corp
Chase Manhattan
Savings and Loan
Missouri
Community Federal Savings & Loan Assn. of
St. Ann
Clark Reis
Bank of America of
San Francisco
Crosby Kemper
City National Bank & Trust Co
Kansas City
American Bankers Assn
Federal Reserve
Savings and Building and Loan Associations
Federal Home Loan Board
Ed Hiles
Georgia Savings and Loan League
Norman Strunk
U.S. Savings
Otto Presler
Home Federation Savings and Loan Assn
Chicago
West Coast
New York State
Mutual Savings
National Assn. of
Mutual Savings’ Banks