The Big Money Funds Strike Back

Last week's announcement by Dreyfus Corp. that it wanted to start its own national bank escalated the war between banks and money-market funds to win consumers' savings. Banks are already well on their way to becoming more like the money funds. Under a bill signed by President Reagan last month, the banks will soon be permitted to offer a new product that will pay as much interest as the banks

care to shell out on deposits that perhaps may be as small as $2,500. Said Citicorp Chairman Walter Wriston: "I think it's terrific." Dreyfus,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!