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Money’s Worth Changing Interest Rates Stir Savings War
Sylvia Porter notes a banking rate upheaval sparked by Regulation Q allowing up to 3 1/4 percent on regular savings and 4 percent on long term deposits. Banks and S&Ls compete fiercely, drawing funds from stocks to savings accounts and boosting U. S. Savings bonds with higher yields. The shift fuels a buyer’s market and could influence home building and industry expansion.
MENTIONED IN THIS ARTICLE
Sylvia Porter
New York
Federal Reserve Board
Pyton Tt
Kensitenedy
Ike
Ddareen
Camneti
U.S
Federal Reserve System
West