Banks respond to mortgage rate critics

Banks respond to mortgage rate critics
“First, there is no 'lender of last resort' (ie, central bank) in Bermuda, so banks here must hold larger liquid reserves to support transactional activity. This means they are not able to loan out or invest as high a proportion of deposits as banks …
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SNS Nationalized in Netherlands After Real Estate Losses
'Last Resort'. Prices of junior bonds of SNS Reaal plunged. SNS's 250 million euros of 6.258 percent Tier 1 perpetual notes were quoted 25 euro cents, or 61 percent, lower at 15.5 cents in London, according to Bloomberg prices. Finance Minister Jeroen …
Read more on Bloomberg

Gono presents monetary policy today
The banking sector has been operating since 2009 without an effective lender of last resort and today's monetary policy would also seek to address the issue which has left banks without any financial backing from the central bank. Among other things …
Read more on NewsDay

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