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That's a really cool paper! I guess, to be precise: a commercial/retail bank needs to earn above its cost of FUNDING, which is actually lower than the rate it
by nsedlet 11y ago
That's a really cool paper! I guess, to be precise: a commercial/retail bank needs to earn above its cost of FUNDING, which is actually lower than the rate it pays on its deposits because it only has to hold a fraction of that money in reserve (which is where the money creation comes in - they're lending out more than they're holding).
...either way, it still has nothing to do with anything that Apple does!