S&L; Industry Still Shrinking: Customers withdrew $14.8...
From Times Staff and Wire Reports
S&L; Industry Still Shrinking: Customers withdrew $14.8 billion in deposits during June and July as the industry continued its rapid shrinkage, the government said. Net withdrawals totaled $7.5 billion in July and $7.3 billion in June. Most of the money--$9.3 billion--was drained from the still-solvent part of the industry, 2,426 institutions at the end of July. The rest--$5.5 billion--came from the government-controlled S&Ls;, 257 at the end of July. It was the 25th outflow in 26 months. Net withdrawals totaled $61.2 billion in the first seven months of the year, up 55% from the year-ago period when they totaled $39.5 billion.
