All Savers Dud

Slow sales for certificates

The much heralded All Savers Certificates were supposed to bring an avalanche of deposits into the nation's desperately troubled savings institutions. Yet sales at both commercial banks and savings and loans are turning out to be somewhat of a letdown. Since they became available on Oct. 1, only about $40 billion worth of the new certificates has been sold, and $15 billion of that amount rolled in during the program's first week, when banks pressed an advertising blitz promoting them. Treasury officials now estimate that total deposits over the one-time-only, 15-month life of the program may wind up...

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