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...“That includes a full and transparent account of what led to the idiosyncratic failure of Credit Suisse.”...
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...At Bank of America, rising deposit costs equalled two-thirds of new interest received in the quarter....
...moved money to savings accounts in a fiercely competitive market....
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...While big lenders are flush with deposits in current accounts, which cost little as they offer no interest, these make up a much lower proportion of the mix held by challenger banks, says Cronin....
...There are, however, ways of moving money out of a bank account without going through the courts. Set-off allows a bank automatically to collect money that an account owner owes it....
...These were transparent enough to hold policymakers to account, but it was the inclusion of an escape clause in case of a disaster that made the rules credible....
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...the bank....
...Group operating costs fell 3 per cent, driven by £200mn of efficiency savings....
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...You get out of poverty with capitalism, savings and hard work.”...
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...JPMorgan Chase and Bank of America were at 2.1 per cent and 2.3 per cent. At Capital One and Discover this was nearly 4 per cent. Cutting late fees also won’t affect companies equally....
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