Eventually, the week-to-week money supply numbers proved too erratic to target directly (the demand for money balances became less stable).
Rio's leaders point out that the state's oil money balances out its relatively paltry share of federal tax transfers, which flow more copiously to poorer north-eastern states.
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If V (velocity of money), which is a reflection of the demand to hold money balances, is stable, then the growth in M should match the potential growth in Q.
Meanwhile, net earnings from Merrill Lynch Investment Managers slipped 23% as money market balances fell.
Brokers will make more money on debit balances, and the cost of carrying their inventory will ease.
Behind the scenes, of course, changes in V reflected changes in the demand to hold money (cash balances), k.
Consumers now want the ability to transfer money, view balances, submit online payments, make deposits, and execute purchases remotely, requiring banks and other financial institutions to step forward to meet these demands with a wide range of mobile and online offerings.
When asked about what kept them from using banks, those without accounts gave reasons including not having enough money to meet minimum balances and pay fees.
Though strong balance sheets are preferable, big cash balances and low money market rates can be a drag on return on equity.
Moreover online brokers make money by charging interest on brokerage account balances.
Some are even doing cash-in refinancing, the reverse of the cash-outs of yesteryear, and contributing money from other sources to reduce their mortgage balances.
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Lord de Mauley, the government's work and pensions minister, opposed the move, arguing that there were already checks and balances in place to ensure the money was spent on the most vulnerable.
Raising the rate paid on reserve balances also discourages excessive growth in money or credit, because banks will not want to lend out their reserves at rates below what they can earn at the Fed.
They needed money to keep up with their monthly expenses, so Tammy didn't put the bonus towards the balances on credit cards or the equity line and instead put the money toward financing their lifestyle.
From a PC you can transfer money, buy shares, apply for loans, check balances.
If the recovery falters, the BoJ could go further, exploring the use of negative interest rates on bank balances, which would encourage banks to lend money rather than hoarding it at the central bank.
Since money market rates are low, the interest income from large cash balances is comparably less than the profits that could be realized by, say an investment in new product line.
We actually sometimes have to go to bat for you to get more money by maneuvering processes, pay bands, and other checks and balances within our organization in order to compensate you the way we want.
But since Tammy handled the money, he didn't know the details of how the credit balances had grown.
However, payouts for the 24% with high balances would be less certain, with the level of returned money depending on the level of bank assets recovered.
Mr Dijsselbloem said the pattern for bank rescues should see shareholders take the first hit, then bondholders, who lend money through financial markets, and only then should depositors with large bank balances be tapped.
But that changed at the start of the year with money flowing in, so there is greater pressure for us to deploy cash balances and get invested.
That immediate gratification attitude is what gets our credit card balances skyrocketing, our decision to purchase a home with little or no money down, little or no cash reserves to fall back on and insufficient assets to fund education for our children or retire in comfort.
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