By Charles R. Geisst (auth.)
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These are used to ensure that there will be funds on hand should the bank's depositors decide to withdraw funds. On the regulatory side of the coin, the amount of reserves to be held against the deposit is a tool in the arsenal of the monetary authorities that regulate bank behaviour. The actual reserve level depends upon the desire of the central bank to control the supply of money in the financial system. Organisationally, the treasury department is made up of traders who operate within the money markets, buying and selling short-term funds and/or securities in order to maximise the yield levels required by the bank.
Banks that are not a part of the system are, as a group, smaller in size and tend to operate regionally or locally but still follow the larger banks in the marketplace when determining interest rate levels on accounts and types of products offered to the public. This dualism, obviously greater before 1980, does not exist in Britain. All commercial banking institutions, as well as all depository institutions, fall under the aegis of the Bank of England whose broad powers have evolved over time. From the broadest perspective, both central banks perform many similar functions; only the legislative background tends to differ.
Because of the requirement, the investment rate will now have to be marginally higher than it would have been if the amounts were calculated on a straight one to one basis. Of all the available choices, assume the bank settles on a deposit in the inter-bank market for 11 t per cent. It places the money at a similar maturity to the one year it offered its depositor and takes the rate differential as its profit. In this case, the original depositor will be paid $100000 interest (assuming no compound interest) while the bank receives $101250 interest on its principal of $900 000.
A Guide to Financial Institutions by Charles R. Geisst (auth.)