The bank also did not notify customers using a debit card at a merchant outlet that the particular transaction would entail an overdraft.
FORBES: Bank of America Settles Lawsuits, Stock Eyes Double Digits
The full force of the sanctions on the central bank will also not be felt until the second half of the year.
ECONOMIST: Tougher sanctions: From half-hearted to harsh | The
However, the e-mail also says that the bank does not anticipate disruption.
The federal-funds futures contract is also betting that the central bank will not be able to ease much further, despite Mr Greenspan's hints to the contrary.
In the current environment, the change of target might also send a message that the Bank was not so concerned about keeping inflation low.
The central bank also said Spain may not be able to meet its deficit targets.
FORBES: Gold Ends Solidly Lower on Bearish Outside Markets, Fresh Technical Selling
At the same time it would also reassure financial markets that the central bank will not allow inflation to get out of hand.
Mr Greenspan's letter also indicated that the bank is not acting to rein in the bubble which many fear has developed in America's housing market.
Now the central bank not only announces any changes in the federal funds rate, but also guides the markets.
The Bank is also going where private capital does not--to invest in the areas of most need, such as schools and hospitals in poor communities.
What is more, Mr Carney will be the first governor of the Bank of England not only to have the power to set interest rates but also to directly influence the supply of credit through the newly created Financial Policy Committee.
In the case of RBS, the chief executive has to understand not only how to run a retail bank but also how to contain the risks of all those complex derivatives that are created and traded by the investment bank.
Local debt also did not trouble the World Bank, which could only talk in generalities in a January 2006 report.
However, the monetary base consists not only of gold, but also of paper money and bank reserves created by the central bank.
Are these changes by which the quants and their algorithms are taking over the stock market beneficial for the small investor, not to speak of the mutual funds, pension funds and bank trust departments that also represent the little guy?
The charges made against UBS show the bank not only manipulated the Libor rate to make itself look healthier to outsiders but also, and perhaps more often, to make money by apparently colluding with other banks.
FORBES: Libor Scandal Just Took A Nasty Turn, Collusion Findings Should Make Banks Very Nervous
The central bank, he argues, should focus not simply on the most likely risks to the economy, but also on those dangers, such as deflation in 2003, whose odds may be low but whose costs would be high.
While the Indian central bank is not seen as likely to intervene to stem any appreciation in the rupee, the currency has also been popular this month due to a reform package from the Indian government aimed at stimulating the economy.
Kamath's bank lends not just to the rising corporate sector but also to the emerging Indian middle class--very much as the boss envisioned years ago.
The complaint also claims James has admitted to not having a bank account in his own name since 1992.
The bank also said it discontinued Countrywide products and practices that "were not in keeping" with its commitment to fair and equal treatment of customers.
But most investment banks do not have the luxury of also being a big universal bank.
Commerce Bank also was not happy about their business prospects, in the event of an 80% type debit interchange reduction, saying that they would lose money in that scenario.
FORBES: Fed Looks to Cap Debit Interchange, Checking Institutions Cringe
Internal restructuring is not the only reason for this slowdown (the bank is also in the midst of an overdue effort to improve the quality of its loans), but it is certainly a big factor.
You would also want to assert, again and again, that the central bank had not and would not compromise on its independence.
Critics of the move also wonder why the government does not replicate the example of Sewa Bank, a 41-year-old all women's co-operative bank, which was begun in Gujarat by social worker Ela Bhatt.
It will also expand the program to include mortgages for which the bank collects payments but does not own.
During her visit to the Bank, she also asked whether the Financial Services Authority (FSA) "did not have the teeth" to respond to the crisis.
应用推荐