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In normal times the opportunity cost of holding non-yielding gold, instead of interest-bearing bank deposits or government bonds, is high.
ECONOMIST: Buttonwood: Precious relic | The
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Similarly, it envisions granting Moscow access to billions of dollars in non-transparent interbank deposits and credit lines, overt government-guaranteed loans, "property settlements, " and other bilateral arrangements.
CENTERFORSECURITYPOLICY: Center for Security Policy | The Washington Summit: The Worst Strategic Miscalculation Since Yalta
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As for banks themselves, by 1913 71% of all banks were non-traditional, and they held 57% of all U.S. deposits.
FORBES
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For banks that have resisted the temptations of the boom, this looks like a golden chance to snap up rivals cheaply. (JPMorgan Chase made a lowball offer for WaMu soon after buying Bear Stearns, but was rebuffed.) Regional banks can also hope to recapture market share from non-banks, as traditional sources of funding, such as deposits, become more important.
ECONOMIST: The bust is starting to catch up with regional lenders
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Penalties for the recalcitrant will include warnings and deposits of up to 0.2% of GDP into, first, interest-bearing accounts, and then into non-interest bearing ones.
ECONOMIST: Charlemagne