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No reserve requirements?! Wow. I had not realized that. That must be unique in the industrialized world.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt ät gmail dotcom) on Mon Dec 17th, 2007 at 04:05:01 AM EST
[ Parent ]
I think it's basically the same in the US since 1994 when "sweeps" were authorized. Check the funny nut at globaleconomicanalysis.blogspot.com, he has interesting posts in his archives about that.

Pierre
by Pierre on Mon Dec 17th, 2007 at 05:26:28 AM EST
[ Parent ]
Reserve requirement - Wikipedia, the free encyclopedia
The cash reserve ratio is also known as the cash asset ratio or liquidity ratio. The Bank of England holds to a voluntary reserve ratio system. In 1998 the average cash reserve ratio across the entire United Kingdom banking system was 3.1%.


We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Mon Dec 17th, 2007 at 10:45:29 AM EST
[ Parent ]
What's the betting the current average liquidity ratio is negative?
by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Dec 17th, 2007 at 11:45:10 AM EST
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dvx:
That must be unique in the industrialized world.
According to the wikipedia article none of Australia, Canada, Mexico, Sweden or the United Kingdom have a reserve requirement.

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Mon Dec 17th, 2007 at 02:57:06 PM EST
[ Parent ]
That seams to be a popular list around these intertubes, but from what I can gather, the worldbank disagrees (xls-warning) and instead says it is 8% in Sweden.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se
by A swedish kind of death on Mon Dec 17th, 2007 at 08:42:21 PM EST
[ Parent ]
Hmm, that wiki list has been sourced from some macroeconomics textbook. Would you mind going in and correcting the mistake?

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Tue Dec 18th, 2007 at 03:00:28 AM EST
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