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The Bank of North Dakota is a state owned enterprise. It operates ~$8B in assets. In 2017, it recorded record profits for the 14th year in a row. It survived th
by dluan 7y ago
The Bank of North Dakota is a state owned enterprise. It operates ~$8B in assets. In 2017, it recorded record profits for the 14th year in a row. It survived the 2008 financial crisis and is serving its citizens just fine.
- hollerith 7y agoOK, but operating a bank is not particularly different IMHO from regulating the hell out of the banks with branches in your territory, which again all 50 US states have been doing for decades. (Very small US state governments with no particular opinions on how to regulate banks will probably have copied the regulations of a larger state government.) My question was whether any European city operates (or regulates) a bank. (I'm almost certain that at least some of the larger European and US cities run their own pension funds, but I want to know if the government of some European city offers bank-like services to people other than its employees.)
- dluan 7y agoSure. In Scotland for example, municipal banks are everywhere. North Lanarkshire, West Lothian, North Ayrshire, Clydebank, and East Dunbartonshire Municipal Bank all take deposits and lend to borrowers. They do everything you'd expect a commercial bank would do.