Under Massachusetts law, when he gave the bank money for the property, the bank in effect transferred the mortgage to him along with the title.
FORBES: Massachusetts Supreme Court Strips Foreclosure Buyer Of Property
And the cost to the supplier of immediate cash payment by the bank, in respect of the implicit interest rate or discount on the bill, ought to be tiny - because the bank is in effect lending to the safe big company, which ultimately honours the bill, not to the riskier supplier.
So after the new bank law went into effect, Mr Wu had a call from a well-informed banker at Macquarie, an Australian bank, asking whether he was interested in Business Development Bank.
ECONOMIST: For once, a foreign bank may have bought wisely in China
Did this emphasis on league tables have a distorting effect on bank behaviour before the credit crisis?
ECONOMIST: Are league tables to blame for the industry's ills?
Back in the 1970s they charged foreigners a fee for having a bank account, in effect imposing a negative interest rate.
Therefore, when the Fed offsets an increase in one of its assets--loans--with a decrease in another of its assets--Treasury securities--there is no net effect on bank reserves.
The foreign debts represent only 6% of total bank assets and the effect on these liabilities is mitigated by the dollar assets banks create with this funding through export-credit financing.
The optimists' gloss on all that was that Italy's financial woes are being quarantined - and the rest of the eurozone is galloping towards the kind of fiscal integration that would (at the last) allow the European Central Bank to (in effect) underwrite the credit-worthiness of all member states (see my post, The eurozone's borrowing costs may stay lethally high, for more on this).
Mr Coogan warned that the bank's efforts had yet to have much effect on the London Inter-Bank Offered Rate (Libor), the main interest rate governing the cost of lending between banks.
Many other businesses are concerned about the effect of the bank closures on their ability to operate.
So the World Bank would assume, in effect, the risk of Laos not honouring its contractual commitments.
And what do you think the effect of this Bank of America takeover of Merrill Lynch has overall?
Once Germany's tax reforms come into effect, the bank will be able to sell these free of capital-gains tax.
In effect, the Bank now thinks that that kind of rapid bounce back in the economy is all but inconceivable.
In effect, the bank s stock served as an index fund for the regional economy, which at that time was dominated by the cyclical technology industry.
At least two studies, one for the World Bank and the other for the Asian Development Bank, show that the effect is not significant.
Back then the range of possible outcomes was quite widely spread: in effect, the Bank thought that anything could happen, including something very good.
One detrimental effect of the bank crisis three years ago is tightened credit standards among regional banks have reduced access to capital for small businesses.
Some would point to similar complacency in the US, where the central bank has promised, in effect, to spend an unlimited amount getting unemployment down.
In effect, the bank now has a target range for short-term rates: the upper bound is the 1% refi rate and the lower bound is the rate the central bank pays on banks' deposits with it, currently 0.25%.
The Fed's half-point cut in mid-September showed that the central bank is worried about the effect of the housing market on growth but also that it hopes speedy action will limit the extent to which that infects the broader economy.
Your avatar has a race (human, elf, orc etc), a class (warrior, priest, wizard, etc), a more or less extensive inventory of all sorts of stuff (weapons, armor, potions, fishing rods, etc), a level and, in effect, a bank account.
Scope, the outsourcing arm of Standard Chartered, the largest foreign bank in India, has the grand aim of becoming, in effect, the back office for many of the bank's operations in 56 countries.
ECONOMIST: India aims to become the back office for the world's banks
According to the Bank, this wage-raising effect decreases the total number of jobs in the economy by about 6.3%.
"There is no effect on deposits with Bank of Cyprus UK Limited, which is a UK bank, " said a spokesman.
The higher doses have the side effect of fattening the bank accounts of both Amgen and the clinics that choose the prescriptions.
In response, Mr Osborne would point instead to the difficult domestic legacy of the financial crisis, and the chilling effect on investment and bank lending from the crisis in the eurozone.
In the case of IFAs, there is evidence of reduced portfolio variance, systematic and unsystematic, as a result of such involvement, but no traces of such an effect remain in the bank advisor sample.
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