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Private Banks And Public Money: An Analysis Of The Design And Implementation Of The Massachusetts Linked Deposit Program, James T. Campen
Private Banks And Public Money: An Analysis Of The Design And Implementation Of The Massachusetts Linked Deposit Program, James T. Campen
John M. McCormack Graduate School of Policy and Global Studies Publications
In March 1978, in accordance with the unanimous recommendations of two special commissions, the Treasurer of Massachusetts established a "linked deposit program." Under the terms of this program, a portion of the approximately $400 million available for short-term investment from the state's General Fund was to be deposited with in-state banks and thrift institutions, selected on the basis of their performance in promoting the economic and social welfare of Massachusetts citizens and communities through their lending and related activities.
Six years after its inception, the Massachusetts linked deposit program (LDP) has grown to become a sizable and stable part of …