A Quote by Sylvia Mathews Burwell
Banks can't recoup the costs of serving customers who save in small amounts and transact frequently.
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The number one thing small business needs is to get more customers. Spend more time serving existing customers and getting new ones. The challenge for small business is knowing where customers are and reaching them effectively.
Most banks tell their customers that they only pay a small upfront fee for international payments. But in reality, customers pay much more.
The banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any more debt, so there's no way the banks can continue their current business plan.
No business in the economy has the easy money that banks get to play with.... The existence of banks with single digit amounts of equity is a completely unhealthy existence -- that is not only a risk for the banks, but for all of us.
I admit that one should never underestimate the capacity of banks to destroy enormous amounts of accumulated capital and reduce, temporarily, the supply. After all, capital is the accumulated savings of mankind. And banks are great masters in destroying enormous amounts of capital with great regularity.
When God gives a vision, transact business on that line, no matter what it costs.
When banks extend loans to their customers, they create money by crediting their customers’ accounts.
Obama had to save the banks, sure, but he didn't have to save the bankers and the shareholders and the bondholders. We broke the rules of capitalism in order to save those at the top - as we always do.
One nation banking recognises that banks must not be isolated from the rest of the economy. Because banks and small businesses must succeed or fail together, banks must lend to small businesses so we can get the growth and jobs we need for the future. As things stand, that is not happening enough. Lending was down £10.8billion last year.
Because SBI is so large, serving customers in India's big cities and small rural villages alike, it has a pressing need for better tools and technology to monitor lending risks.
Regulatory changes have forced banks to closely examine their liquidity planning and to internalize the costs of liquidity provision. The costs of committed liquidity facilities will be passed on to clearing members. These costs are perhaps highest in clearing Treasury securities, where liquidity needs can be especially large.
Small amounts of philosophy lead to atheism, but larger amounts bring us back to God.
I believe Indian banks have a strong funding profile with largely deposit-funded balance sheets, a large physical presence to cater to the needs of customers, and ability to provide comprehensive solutions to customers.
Let me talk about what the banks are doing, and I think the banks have been working to make sure that, as much as possible, we move the currency to the smaller areas and to as many set of customers as possible.
If it's servicing a real need, that doesn't go away in a recession. If you're serving a true need, and if you have a loyal group of customers that are falling... As the world goes through a tough time, these customers will stay with you.
Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.
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