U.S. Will Raise Temporary Thrift Rescue Funds:...
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From Times Staff and Wire Service Reports
U.S. Will Raise Temporary Thrift Rescue Funds: Federal regulators approved a plan to raise up to $11 billion in temporary working capital for the government’s massive savings and loan rescue program. The Oversight Board of the Resolution Trust Corp., or RTC, said it decided to borrow the money from the Federal Financing Bank, which was created in the 1970s to lend money to government agencies at a fraction above market rates.
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