You give it to them!
Negative interest rates.
- Thread starter ladylola
- Start date
You give it to them!Sponsored Links
No tantrum from me - relaxing while watching rugby on the box.
You've gone from "personal banking is free", to "they make minimal profit", to inferring my personal feelings viz a viz banks. All interspersed with non-answers of "rhetoric".
If you think £9 billion is minimal, I wouldn't mind being £10 behind you!
Money laundering regulations are just a way to move everyone away from cash so everything can be documented for that interesting visit to the tax office to discuss your tax return.
I wouldn't wonder if they are keeping the interest low because of the PPI outlay ..
essentially us mugs are paying their penalties.
Banks are the greediest institutions - now totally divorced from their origins - when they were once 'equitable'
legalised corruption I call it..
I won’t even mention the casino gambling outrage that we pleasantly call the stock market..
essentially us mugs are paying their penalties.
Banks are the greediest institutions - now totally divorced from their origins - when they were once 'equitable'
legalised corruption I call it..
I won’t even mention the casino gambling outrage that we pleasantly call the stock market..
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Fractional reserve banking - not heard that in a while and very enlightening it is too.
There are other reasons than PPI that are keeping interest rates low. This has an America viewpoint but the situation is very much the same as here,
http://www.sovereignman.com/trends/...stem-is-now-resting-on-a-margin-of-1-3-17441/
This isn't anti banking at all. Where do you think banks get the money to pay their employees, dividends and running costs? Of course they use money we store in there for investment purposes. How else can they lend money if they haven't got it in there to lend?
N
Newboy
The average return that a retail bank makes, per annum, by using the funds in current accounts is c. £60.
By the nature of a current account, the banks cannot use the funds for anything other than what used to be overnight deposits.
With respect, if you think that the bank lends customers only the money it takes in from other customers then you have a very naive understanding of the financial system. The days when loans and deposits matched have long since gone.
By the nature of a current account, the banks cannot use the funds for anything other than what used to be overnight deposits.
With respect, if you think that the bank lends customers only the money it takes in from other customers then you have a very naive understanding of the financial system. The days when loans and deposits matched have long since gone.
Is that per person?
N
Newboy
The clue is in the quote - average
Average could be based over a number of years or per bank. You ill defined what you meant, so don't get all smart ar$ed
N
Newboy
OK - read the post again
The AVERAGE return that A retail bank makes, per ANNUM, by using the funds in current ACCOUNTS is c. £60
Which part of that statement needs clarification?
The AVERAGE return that A retail bank makes, per ANNUM, by using the funds in current ACCOUNTS is c. £60
Which part of that statement needs clarification?
Is that per person, per current account across all types of current accounts it operates, a running average, a modal average, a median average, a mean average?
By A retail bank, which bank are you referring to?
By A retail bank, which bank are you referring to?
N
Newboy
OK let's try again
If you take the total return made by using the all funds in all of current accounts operated by all the retail banks in the UK and divide it by the total number of current accounts the average annual return is £60
And to answer your secondary question - arithmetic mean
If you take the total return made by using the all funds in all of current accounts operated by all the retail banks in the UK and divide it by the total number of current accounts the average annual return is £60
And to answer your secondary question - arithmetic mean
Thank you for that clarification. Wasn't difficult, was it?
If you multiply that out to find the gross return, then that's a sizable amount. How do they earn such a large amount if they aren't investing it elsewhere?
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