CHEAP CREDIT IN U. S. A.
HELPING BUSINESS RECOVERY
NATION’S BANKS COME fITO LINE
United Press Association —By Electric Telegraph—Copyright (Received December 17, 7.40 p.m.) WASHINGTON, December 16. As a further move to ensure cheap credit as a stimulant to business recovery, the Federal Reserve System today reduced from 3 per cent, to 21 per cent., the maximum interest rates payable by member banks on time and saving banks deposits. Furthermore, all non-Federal Reserve Banks, insured by the Federal Deposit Insurance Corporation, will be likewise limited. It is estimated that 14,000 or practically all the nation’s banks come under these categories.
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https://paperspast.natlib.govt.nz/newspapers/THD19341218.2.59
Bibliographic details
Timaru Herald, Volume CXXXVIII, Issue 19985, 18 December 1934, Page 9
Word Count
101CHEAP CREDIT IN U. S. A. Timaru Herald, Volume CXXXVIII, Issue 19985, 18 December 1934, Page 9
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