Gov. Richard F.
Five of 69 state-chartered savings and loans still under a closure order by the state were open for business Thursday and, although lines formed at some branches, officials reported no shortages of cash.
According to the Federal Home Loan Bank of San Francisco, assets of savings and loans in California, Nevada and Arizona grew at an annualized rate of only 2.6% in the first quarter of 1985.
The nation's savings & loan associations and savings banks held $614 billion of the $1.1 trillion in residential mortgage loans outstanding at all private lenders at the end of 1984, according to the 1985 Savings Institutions Sourcebook.
Nearly one in every five U.
Its funds continuing to dwindle at a sharp rate, the Federal Savings and Loan Insurance Corp. may run out of the money it needs to close or sell off troubled savings and loan firms by early next year, the nation's chief S&L; regulator said in an interview Tuesday.
The nation's federally insured savings and loan institutions issued a record $21.8 billion in mortgages in May, 23.6% higher than the same month a year ago, the government said Friday.
At first glance, last year's rebound in the savings and loan industry seems to have passed by Orange County.
About 40 troubled savings and loans under the direct control of the U.S. government are paying extraordinarily high interest rates to lure new depositors--a practice the banking community and federal regulators have criticized as too risky.
Some leaders of the troubled savings and loan industry want a "taxpayer bailout" costing billions of dollars, the chairman of the Federal Home Loan Bank Board charged Thursday in a bitter exchange with the business he regulates.
Nearly a fourth of all federally insured savings and loan associations lost money last year, and their losses more than doubled from 1985 levels, the government reported Friday.
The California savings and loan industry, the nation's largest, is riddled with insider fraud that is reaching "epidemic proportions," according to testimony Saturday at a congressional subcommittee hearing in Los Angeles.
Chase Manhattan Corp.'
The Federal Home Loan Bank Board proposed new rules Friday that would greatly increase the ability of federally chartered savings and loan associations to expand across state lines.
Many new savings and loan associations have drifted from the traditional role of providing home financing.
The 18 California savings and loans placed under special regulatory supervision in the past 18 months lost a total of $155 million in the first three months of this year after losses of $706 million in 1985, figures from the Federal Home Loan Bank Board show.
Financial analysts lavish them with attention and bathe their chief executives in kind words because they are awash in money.
Amid all the publicity about the need for more federal insurance to bail out ailing savings and loans, there has been far too little discussion about how to avoid needing it.
Despite growing signs that Ohio's bank holiday for its 70 privately insured savings and loan institutions is likely to continue at least until late this week, Ohio Gov.