Statistics, Facts & Such
There were 11,081 community banks in existence at the end of 1992, compared with 11,552 in 1991.
There were 5,258 applications filed in 1992 for mergers, acquisitions and new branches, according to a study by the American Bankers. Three were denied because of inadequate compliance with CRA.
Social Security will continue taking in more money than it pays out until the year 2025.
Medicare will become insolvent by the year 2002 if corrective action is not taken.
The current maximum benefit from social security is $1,088 per month.
U.S. productivity rose at a 2.8% annual rate for all of 1992-the best year since 1972.
The 100 ruble note was the biggest denomination note in Russia from 1924 to early 1992 when the 5,000 ruble note was introduced. In late April 1993 the authorities will issue a 50,000 ruble note due to hyperinflation.
In 1990 tax audits were done by IRS on 5.3% of returns on income of $100,000 and over (before deductions). 1.9% of returns with income over $50,000 were audited.
In 1980 7.8% of returns with income over $50,000 were audited.
In 1923 a Chevrolet cost $680.
Seventy-eight percent of people who use a banking branch in a supermarket do so in order to cash checks. Seventy-one percent make deposits.
The American Bankers Association's 1992 study on the cost of regulatory compliance estimated it to be $10.7 billion. The U.S. Government appointed Federal Financial Institutions Examination Council did their own study-and came up with a cost of $17.5 billion.
Copyright © 1993 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 3, No. 11, 4/93
First published on 04/01/1993