The same flawed thinking led bank regulators to create the backward-looking Basel models for setting capital levels in banks.
The perspective of traditional bank thinking is still very narrow.
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But you do come away feeling a bit better-informed about the thinking of our central bank and its governor.
On top of that, criminals could use the same method to fool the terminal into thinking a transaction was bank-approved, allowing them to walk out of a store with goods they hadn't paid for.
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If you are thinking about switching from your bank to a credit union, the Credit Union National Association offers a tool to help you find one near you.
Repos increase bank interconnectedness, the thinking goes, because the same securities end up being used as collateral by multiple institutions.
Clearly, the Bank of England is thinking about that quite hard.
If economic activity is slowing, so the thinking has gone, the central bank should rev up the printing presses: The extra money will stimulate growth.
Is it possible that Barclays' board has been misled by Anthony Salz's urbane manner and establishment background into thinking that his review of the bank's business practices will deliver an answer to them which is comforting and anodyne?
No one knows whether following up on the West Bank formed part of his thinking.
He reiterated advice given by the RNLI to anyone thinking of visiting a beach over the bank holiday.
That is exactly the kind of thinking and behavior the Japanese government and central bank intended to create by vowing to defeat deflation and reignite the economy through broad-based asset purchases known as quantitative easing.
In a way, this is curious, because the bank has gone to great lengths to try to make its thinking plain.
Better-run urban collectives are finding it hard to get new credit: a mere 17% of bank loans goes to the collective sector, according to Clear Thinking, a Beijing consultancy, while state companies hog the rest.
Put it another way: he may have no burning desire to change the Bank's formal target, but you can't help thinking Governor Carney will raise the bar for the economy more generally.
As for when the bank might resume paying a dividend and when the Treasury might start thinking about privatising some of taxpayers' 40% stake, that can all be evaluated in the autumn, after the shape of Europe's new banking rules are clearer (in what's known as CRD4).
He highlighted a major difference of opinion with regard to the thinking at the BOE, the Federal Reserve (Fed) and the European Central Bank (ECB).
Thus far, there is no evidence of a retail bank run anywhere in Europe so, to the extent that people are thinking about this at all, it appears they believe reassurances that the situation in Cyprus has no broader implications.
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Just imagine what you would be thinking now if you were a resident of troubled periphery economy and had funds in your bank account.
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But many more were not in fact so: they were brought down by people thinking they might be and thus turning up en masse to demand their money: a bank run.
While he said he had no reservations about adopting the target, Mr. Shirakawa warned against any belief that the central bank has sway over people's price expectations, a core element of reflationist thinking.
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