1. New force moves into money markets.
- Subjects
MORTGAGES ,LOANS ,BONDS (Finance) ,INTEREST rates ,GOVERNMENT agencies ,BANKING industry - Abstract
The article focuses on the sale of participations in pools of mortgages and loans made by the U.S. federal agencies which affected the banking sector. It says that U.S. President Lyndon Johnson enacted the Participation Sales Act of 1966. It adds that the act's enactment induced the rise in bond issues by other agencies which dismayed bankers. Moreover, the sale of participations caused increase on interest rates for participation certificates (PCs) and other private and public debt securities.
- Published
- 1966