Profile

unixronin: Galen the technomage, from Babylon 5: Crusade (Default)
Unixronin

December 2012

S M T W T F S
      1
2345678
9101112131415
16171819202122
23242526272829
3031     

Most Popular Tags

Expand Cut Tags

No cut tags
Saturday, May 15th, 2010 03:30 am (UTC)
The article seems to imply only a handful of banks get that 0% rate. I don't know if that's correct.

It does put a bit of a different complexion on it if it applies only to overnight rates though. Of course, one could argue that daily churn doesn't actually cost the bank anything; they just have to make the same transaction 365 times a year.

$45 billion annual profit from the Fed isn't to be sneezed at. Unfortunately it's a drop in the bucket of current spending.

Reply

This account has disabled anonymous posting.
(will be screened if not validated)
If you don't have an account you can create one now.
HTML doesn't work in the subject.
More info about formatting

If you are unable to use this captcha for any reason, please contact us by email at support@dreamwidth.org