Federal Reserve Moves To Reduce Bank Credit Growth
The Federal Reserve Board ordered member banks to raise reserves from 5 to 8 percent on new large certificates of deposit effective June 7, limiting lending while removing the ceiling on rates for 100000 plus CDs. Banks with under 10 million in outstanding CDs are exempt. The move aims to curb rapid business borrowing and ease balance of payments concerns.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
U.S
Catholics Report Second Smallest Membership Gain in U S Census
The 1973 census lists 48,460,427 Catholics in the United States an increase of 69,437 the second smallest annual rise on record. Infant baptisms decline further while priest and nun counts edge down and school enrollments fall. Converts drop to 73,925 the lowest since 1939.
MENTIONED IN THIS ARTICLE
New York
U. S
Tanaka Plans Summer Visit to Washington
Japanese Prime Minister Tanaka will visit Washington for a two day summit with President Nixon on July 31 and August 1. The White House confirmed an official visit with no announced agenda but expected talks on trade and monetary issues.
MENTIONED IN THIS ARTICLE
Tanaka
Washington
Nixon
White House
Plea of Insanity Fails To Block Hijack Conviction
Brock Trapnell was convicted on airplane piracy and related charges after a jury found him sane at the time of the TWA jet hijack from Los Angeles to New York. He admitted the hijack aimed to extort money. the verdict came in Brooklyn eight days into the trial. He faces a possible life sentence on the piracy count, with sentencing not yet set.
MENTIONED IN THIS ARTICLE
New York
Garrett
Brock Trapnell
Los Angeles
FBI
U. S. District Court
Brooklyn
Trapnell
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