Word: banco
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Irreparable Consequences. Lolli's subsequent resignation and Longo's determination to leave with him turn the top management of the Banco del Lavoro into a lame-duck administration and hobble its operations. "We can do absolutely nothing about planning even six months from now," complains one bank official. Even some politicians resent the dumping of Lolli, an expert on international monetary matters whose views on the gold flow have been sought by the U.S. Treasury and Congress. The sequence of events that led to the Longo-Lolli resignations, said an editorial in the left-of-center Republican Party...
Last week two of Spain's Big Five banks planned a merger that would help gear Spanish banking to the heavy demands ahead. It would meld Spain's biggest commercial bank, the Banco Hispano Americano (capitalization $19.6 million, reserves $47.2 million), with the Banco Central (capitalization $13.3 million, reserves $33.3 million). With these combined resources and 805 branches, the new bank would rank sixth in Europe...
...prospers, however, real income is expected to increase at least 50% in the next decade. The growth prospects have already attracted several American banks into joint ventures with Spanish banks. First National City Bank and Bank of America, for example, have set up respective fifty-fifty arrangements with the Banco de Vizcaya and the Banco de Santander...
...Bank of Tokyo of California recently started its eighth and ninth branches. In Manhattan, the international banking center, the British have opened four major branches, the Swiss three, the French and Israelis two each, and the Italians, Dutch, Lebanese and Pakistanis one apiece. Last month Brazil's Banco da Lavoura de Minas Gerais opened up in Manhattan, and last week the Bank of Tokyo Trust Co. opened newly expanded offices as kimono-clad Japanese girls served raw fish and Suntory whisky to customers...
...burned to the ground unless they sold out at ridiculously low prices. The new government claims that Goulart got the 112,672-acre Fazenda Três Marias, another of his Mato Grosso ranches, free in return for giving the owner an interest-free $150,000 loan from the Banco do Brasil...