BANKING & FINANCE - July 29, 1991

Pace of S&L; Withdrawals Slows: Net withdrawals at the nation’s savings institutions fell to $3.8 billion in May as the shrinkage of the thrift industry continued, but at a slower rate. The outflow, down from $10.6 billion in April, was the 35th in the past three years, the Office of Thrift Supervision said. However, withdrawals for the first five months of the year, $29.6 billion, were 45% lower than the year-ago period. In May, the 2,174 S&Ls; that were solvent reported net withdrawals of $1.7 billion, while the 221 failed institutions managed by the Resolution Trust Corp. reported $2.1 billion in withdrawals. The industry as a whole had deposits of $802 billion in May and assets of $1.02 trillion.