It's a fractional reserve system with no reserve requirements and no central bank control.
Then again, that was when it was under Midland Bank control and more or less, left to its own highly profitable devices.
This would be all the more galling for Mr George since his job has recently become a lot more interesting, following the government's decision to hand the Bank control of interest rates.
The Bundesbank believes that minimum reserve requirements give a central bank tighter control over bank lending and help to smooth out money-market interest rates.
It weakens his position with the regional politicians and savings-bank chiefs who control WestLB via its supervisory board.
However, when it comes to the bank's control over its own staff, the report is a lot less forgiving.
The bank was bailed out in September, which is when the central bank also took control of its finances.
The Fed has unlimited power to create bank reserves and control interest rates, which affect the valuation of every asset.
The firm is auctioning the property for BTC Bank, a community bank that took control of the property about a year ago.
The government is dismantling the Financial Services Authority and giving the Bank of England control of macro-prudential regulation and oversight of micro-prudential regulation.
Indeed the attempt to place Hungary's central bank under parliamentary control is what has caused the EU to threaten to withdraw economic aid.
Netanyahu has made enforceable security guarantees the prerequisite for transferring an additional 13 percent of land in the West Bank to Palestinian control.
The judge said the evidence could support a finding that the bank exercised enough control over the bankrupt company to be liable under WARN.
Talks with Palestinian leader Yasser Arafat in 1998 resulted in the Wye Memorandum, which placed 40 percent of the West Bank under Palestinian control.
If he did not believe that the bank would have control over Aurora, it is hard to see why he would sign such an agreement.
Simon Robertson quit as chairman of Kleinwort Benson after 34 years with the merchant bank, as Germany's Dresdner Bank took more control of its unit.
Any central bank has to worry about the smooth functioning of financial markets because if they stop functioning smoothly, the central bank loses all control over the economy.
"I lost the throttle on turn nine which I was told was due to a failure on one bank of the control system, " Coulthard said when his race was over.
The chancellor is wary of cutting loose: in Treasury eyes, one of the advantages of the Bank's control of interest rates (handed over by Mr Brown in 1997) is the discipline it exerts on fiscal policy.
These critics think that the government was misguided in treating bank holding companies (firms that have control over at least one bank and also have sprawling non-bank financial operations), which are regulated by the Federal Reserve, differently from small regional banks, which are regulated by the F.
Meanwhile, in further signs of nervousness about the Greek economic situation, French bank Credit Agricole has taken control of assets owned by its Greek subsidiary, Emporiki Bank.
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The Fed really had little power to control either bank reserves or interest rates.
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In 1978 it bought part of First Boston, an American investment bank, and took control in 1990.
The more honest of the advocates of such bank-shot arms control initiatives will acknowledge that this outcome is the intended one.
In any event, with 75%, the Bavarians still have control of Bank Austria, although remerger (or demerger) would require a 90% vote.
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Zimbabwe's cash-starved banks, and a central bank that has lost control of its currency, mirror challenges in other countries, including Greece, Malawi and Swaziland.
Restructuring plans have been announced for another three banks under IBRA (Indonesian Bank Restructuring Agency) control, while progress has been made toward the merger of four state banks.
Gordon Brown's New Deal, his Working Families Tax Credit and perhaps even his decision to give the Bank of England independent control of monetary policy owe a good deal to ideas the chancellor and his economic adviser, Ed Balls, picked up and kicked about in Washington and Harvard.
As ever, the argument would be that the Bank cannot hope to control what is happening across the Channel, or prevent it from darkening the prospects for the UK. But it can do all it can to offset the upward pressure on bank funding costs and the downward effects on confidence.
With two-fifths of Antonveneta's shares confiscated, the Dutch are technically in control of the bank.
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