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Topic: Bank run


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In the News (Sat 12 Dec 09)

  
  Bank Runs, by George G. Kaufman: The Concise Encyclopedia of Economics: Library of Economics and Liberty
A run on a bank occurs when a large number of depositors, fearing that their bank will be unable to repay their deposits in full and on time, try to withdraw their funds immediately.
If their concerns about the bank's solvency are unjustified, other banks in the same market area would generally gain from recycling funds they receive back to the bank experiencing the run.
Runs are feared even more because of their potential spillover to other banks.
www.econlib.org /library/Enc/BankRuns.html   (1058 words)

  
 Who's Afraid of a Run on Banks? -- y2kculture
Keep in mind that Rockwell is a longtime critic of the current banking system, in which the Federal Reserve encourages banks to lend out much, much more money than they actually have in their vaults.
(Banks no longer act like storage lockers, where everyone can take out what they put in.) If everyone wants their money at once, only those lucky enough to be first in line can get it.
Seems to us that once the newly-minted money enters the banking system again -- either from relieved depositors or through indirect spending on purchases -- the banks will repay their loans to the Fed and we'll be back to normal.
www.mccullagh.org /y2kculture/finance/19990317.bankruns.html   (418 words)

  
 The Raw Story | Taiwan appeals for calm in wake of bank run
The run came after two subsidiary firms of the conglomerated Rebar Group filed a restructuring request with the Taipei District Court last Thursday after suffering losses totaling 25.2 billion Taiwan dollars (763 million US dollars) in the past seven years.
The Chinese Bank is owned by the Rebar Group, whose chairman, Wang You-theng, and his wife were reported to have left for China shortly after the two firms filed the request.
The bank had total deposits of 169.72 billion Taiwan dollars as of the end of 2006, with loans amounting to 124.6 billion Taiwan dollars.
rawstory.com /news/2006/Taiwan_appeals_for_calm_in_wake_of__01082007.html   (376 words)

  
 Euro2day :: Taiwan's bank run
Taipei was characteristically quick to inject public funds into The Chinese Bank at the weekend, and the lender is something of a special case: the run came after two of its long-ailing affiliates filed for insolvency.
Taiwan's bigger banks are emerging from an unsecured consumer credit crisis, but their outlook remains uninspiring.
Bank runs this time round do not look like a rallying call for buyers.
www.euro2day.gr /articlesfna/26778862   (695 words)

  
 Weston Bank Run
This notice states that the institution was closed that the depositors "may be treated equitably." Knowing the men who have the affairs of the bank under their control, this should be ample guarantee to the depositors.
It should be clear to almost every one that a bank with deposits totalling more than two million dollars, could not have that amount in its vaults at all times.
It should also be even clearer that no bank could within a few days call in all its notes and the money it has loaned.
www.wvculture.org /HiStory/businessandindustry/westonbankrun03.html   (573 words)

  
 Bank Account
Each entity (bank or client) is a process that can reside on a separate machine.
It has two xc events: ack(id), called by the bank to indicate acceptance of the client's update request; and nack(id), called by the bank to indicate rejection of the client's update request.
An update request must have a valid id. The bank issues an ack to a client only if the client has a pending update request with a valid id and, in case of negative update, the balance is adequate.
www.cs.umd.edu /~sharno/SeSFJava/bank/bank_account.htm   (680 words)

  
 ‘Bank run’ defense blames it on Enron victims - The Enron Trial - MSNBC.com
That is essentially who Kenneth Lay and Jeffrey Skilling have blamed by describing the energy trading company’s collapse as a “classic run on the bank” during testimony at their fraud trial in Houston.
But the reality is that most banks survive a run on deposits, and any resulting failure is the reflection of a pre-existing financial ailment exposed by a run.
A run needn’t be fatal because an otherwise healthy institution has the wherewithal to raise sufficient cash or borrow it from other lenders that wouldn’t risk their money on a bank whose ability to repay was suspect, he added.
www.msnbc.msn.com /id/12533318   (506 words)

  
 Bank Run, 1999
Yet at present, there are zero compliant money-center banks world-wide, and only a few publicly announced financial institutions that have made it....Citibank (now Citigroup, and spending nearly a billion dollars on its y2k repairs) said last year that it hoped to be the first.
Asia's banks are already in danger with solvency problems and are doing little to repair their systems for y2k.
When the bank runs begin, they may be precipitated by Japan's weak financial health.
www.angelfire.com /or/truthfinder/bankrun.html   (1664 words)

  
 Industrial Bank fears run will continue after Q2 report divulges its weakness
A dispute between the Bank of Israel and the treasury on the use of the guarantees is delaying implementation of the arrangement.
The banking sector is concerned that those who have not yet withdrawn their funds from the struggling bank will do so today.
The Bank of Israel responded that the details reported last week by the Prime Minister's Office, the treasury, and Bank of Israel have not been finalized but it expects it will be in the next few days.
www.thestreet.com /tech/themarker/10040321.html   (590 words)

  
 'Bank Run' Defense Blames the Victims
Had investors and creditors not run scared as the scandal unfolded in 2001, dumping their Enron shares and refusing to lend more money, the company and its purportedly healthy business wouldn't have been forced into bankruptcy, the former top two officers of Enron argued.
Irrational market hysteria is a basic characteristic of a "classic" bank run, where word spreads that a financial institution is short of cash and panicked depositors rush to their branch to withdraw their savings before the money is all gone.
Occasionally, the crush of withdrawals can be ruinous for a bank, forcing it to quickly liquidate investments at fire sale prices until the institution is left with insufficient assets to repay all its deposits.
www.washingtonpost.com /wp-dyn/content/article/2006/04/28/AR2006042801172_pf.html   (838 words)

  
 2004 Olympic Bronze Medalist Deena Kastor to Run LaSalle Bank Chicago Marathon
The LaSalle Bank Chicago Marathon is one of the top races in the world -- the fast course, the millions of people that line the streets and the competitive field give you that extra motivation and adrenaline to perform at your best.
In an emotional and inspirational run on August 22 on worldwide television in Athens, she finished in third-place picking up the bronze medal with a time of 2:27:20; and was the first American medalist in the Marathon since Joan Benoit-Samuelson's fete at the 1984 Los Angeles games.
She finished the circuit with a disappointing run on Nov. 7 at the New York City Marathon where she ran out of gas at mile 16, culminating a momentous year.
www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-09-2005/0002989739&EDATE=   (860 words)

  
 Bill could run bank gift cards out of Mass. - The Boston Globe
The prepaid market, consisting of cards directed at shoppers, consumers without bank accounts, and corporations looking for a way to reward employees, is expected to grow 42 percent over the next two years to $15.6 billion.
Simon has argued that its card is issued by a federally chartered bank and therefore not subject to state regulation.
Dennis Moroney, senior bank cards analyst at the Tower Group, said the market for prepaid gift cards is so big and expanding so fast that banks may just increase their up-front handling fees to cover their costs.
www.boston.com /business/articles/2006/04/09/bill_could_run_bank_gift_cards_out_of_mass   (1024 words)

  
 Melbourne women carjacked on run to bank - Breaking News - National - Breaking News   (Site not responding. Last check: 2007-10-25)
The victims of a violent carjacking in Melbourne were taking cash from their small business to the bank when their car was attacked, police say.
A woman suffered a broken nose when she and a companion were forced from their four-wheel drive in the attack at Springvale in the city's south-east.
Det Spooner said he was surprised by the violence of the attack, which left the driver with a broken nose.
www.smh.com.au /news/National/Melbourne-women-carjacked-on-run-to-bank/2007/05/09/1178390373018.html   (368 words)

  
 The Possibility of Bank Runs
The editor has been accused of trying, through the advertising and other means, to cause the bank runs he is predicting.
There is some plausibility to this accusation since he believes the present banking system to be immoral and would like to see it gone.
Bank runs can take the form of adverse clearing balances as depositors shift funds to other banks.
www.cob.sfasu.edu /rgriffith/bankrun.htm   (1324 words)

  
 ACE 270 - Consumer Economics - Problem Set 4   (Site not responding. Last check: 2007-10-25)
a) A run on a bank is when depositors rush to their bank to withdraw their money before the bank fails.
A healthy bank could fail if a rumor is started that causes a bank run.
Therefore, bank runs that are usually caused by failing banks end up causing a bank to fail.
www.ace.uiuc.edu /classes/ace270/Review/sp00/PS4a03.htm   (243 words)

  
 Cancel that frantic bank run - Orlando Sentinel : Business
Banks such as Orlando National have offered the early adopters among their clients a particularly sweet deal: Those in its pilot program pay nothing for the first two years.
It will also give banks the ability to clear checks in a matter of hours, dramatically reducing the "float" -- the time lag that occurs between when a check is written and when the funds are actually removed from the check writer's account.
Banks argue that the benefits made possible by Check 21, such as the remote-deposit service, outweigh the loss of any float.
www.orlandosentinel.com /business/orl-checks1406feb14,0,3973448.story   (859 words)

  
 Piggy Bank Development - SIMILE
Piggy Bank is composed of two subsystems, a javascript side and a java side.
Now you can run firefox in debug mode just by clicking on the icon as before (this is also a good way of having multiple shortcuts for different profiles, which is very handy when you want to do development with one browser and still use another one to navigate)
After you have installed Piggy Bank and turned it into "debug mode" (this is necessary for Piggy Bank to unlock the internal firefox caching facilities), you can simply close and reopen a firefox page to see things updated.
simile.mit.edu /wiki/Piggy_Bank_Development   (1501 words)

  
 Openflows | Neocon to run World Bank   (Site not responding. Last check: 2007-10-25)
BBC: Pentagon hawk to run World Bank: The World Bank has confirmed that the US president has nominated his Deputy Defense Secretary, Paul Wolfowitz, to run the global development body.
The World Bank numbers 184 states among its members, and is responsible for leading global efforts to promote economic development and reduce poverty.
It is traditional for the US president to nominate the head of the World Bank, while the head of the International Monetary Fund usually comes from a European country.
openflows.org /article.pl?sid=05/03/16/1617255   (319 words)

  
 Bank-Run Real Estate Brokerages? : RISMedia
A recent survey of 800 adults, conducted by Public Opinion Strategies in early February, revealed that nearly two out of three consumers believe that in order to protect their interests, this regulation should not be approved.
About 58% of respondents say they believe banks are too powerful already and should not be allowed to own real estate brokerage operations.
The ruling would allow banks to have qualified persons on their staff handle brokerage services, or line up brokerage firm affiliates in their marketing area.
www.rismedia.com /wp/2002-05-29/bank-run-real-estate-brokerages   (964 words)

  
 Piggy Bank - SIMILE
Piggy Bank is a Firefox extension that turns your browser into a mashup platform, by allowing you to extract data from different web sites and mix them together.
Piggy Bank is an open source software and built around the spirit of open participation and collaboration.
Piggy Bank is open source software and is licensed under the BSD license.
simile.mit.edu /piggy-bank   (481 words)

  
 »»Bank-run Reviews««
Charlie is secretly run by a senior executive of MI-6, Mattie Furniss, Head of the Iran Desk at Century House, friend of the Eshraq family from his time as Station Officer in Tehran during the Shah's rule, and Charlie's mentor.
A major component of HOME RUN is a conflict between two agencies of Her Majesty's government in which dedicated and well-meaning civil servants are ground up in the cogs of political maneuvering, and the ostensible "bad guy" squeezes through the crack.
HOME RUN is the most complex and deliciously constructed of Seymour's many thrillers that I've read to date.
www.financial-book-review.com /Bank-note/Bank-run   (2288 words)

  
 Thousands of Runners and Walkers Expected to Lace Up for LaSalle Bank Run Wild for the Detroit Zoo - The Detroit Zoo
LaSalle Bank is in its third year of a five-year agreement to be the title sponsor for the event.
LaSalle Bank Midwest National Association is headquartered in Troy, Michigan, with $39.4 billion in assets and $22.2 billion in deposits.
LaSalle Bank is an indirect subsidiary of Netherlands-based ABN AMRO Bank N.V., a leading international bank with total assets of EUR 975.1 billion.
www.detroitzoo.org /Newsflashes/2006_Press_Releases/Thousands_of_Runners_and_Walkers_Expected_to_Lace_Up_for_LaSalle_Bank_Run_Wild_for_the_Detroit_Zoo   (741 words)

  
 LaSalle Bank Run Wild For the Detroit Zoo Coming September 10
LaSalle Bank is in the second year of a five-year agreement to be the title sponsor for the event.
LaSalle Bank is providing cash prizes, totaling $10,000, to be awarded to the top five male and female runners of both events.
Michigan-based LaSalle Bank and Chicago-based LaSalle Bank are indirect subsidiaries of Netherlands-based ABN AMRO Bank N.V. The banks will not merge as a result of this name change.
www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-30-2005/0004096852&EDATE=   (780 words)

  
 United Press International - NewsTrack - Business - Bank run ends low-interest mortgages
Customers flooded the banks afterward in the hope of getting low-interest fixed-rate loans before Britain's central bank, the Bank of England, raised interest rates, The (London) Daily Telegraph reported.
Mervyn King, governor of the Bank of England, pledged to raise interest rates to lower inflation.
The bank's Monetary Policy Committee is expected to raise rates by as much as half a percent, from 5.25 percent, next month.
www.upi.com /NewsTrack/Business/2007/04/19/bank_run_ends_lowinterest_mortgages   (300 words)

  
 Cool Running :: Glusac to Defend USA 25K Title at River Bank Run
The USA 25K Championships return to Fifth Third River Bank Run for the eighth consecutive year and like past editions, top U.S. and international fields are expected this Saturday.
"The 25th Annual Fifth Third River Bank Run promises to be a spectacular event on Saturday morning, May 11 with record participation numbers in the 25K and 5K events.
The River Bank 25K is also the next stop on the 2002 USA Running Circuit - a USA Track and Field road series featuring USA Championships from 5K to the marathon.
www.coolrunning.com /engine/3/3_5/289.shtml   (1381 words)

  
 MLive.com: Section Name
Two important figures of the 25K Fifth Third River Bank Run performed their duties at Saturday's 30th annual race before riding into the sunset.
All are part of the Fifth Third River Bank Run, which is set for its 30th race Saturday.
When Kevin Losee participates Saturday in the Fifth Third River Bank Run's 5K, it will be the sixth time the Spring Lake resident has competed in a 3.1-mile race.
www.mlive.com /grpress/special/riverrun   (2691 words)

  
 Doe Run Secures Bank Financing For Domestic Operations
LOUIS (Feb. 13, 2007) — The Doe Run Company, a global provider of premium metals and services, today announced it has secured new, bank financing that enables the company to repurchase all of its outstanding warrants and bonds.
Doe Run operates the most active lead mining district in the country, with six underground mines, four mills and the nation’s only primary smelter.
Wachovia has retail and commercial banking operations in 21 states with 3,375 retail banking offices from Connecticut to Florida and west to Texas and California.
www.doerun.com /news/newsfile.aspx?ID=213   (500 words)

  
 BW Online | July 9, 2001 | No Way to Run a Bank
The institution, formed from state-owned Landesbank Berlin, private-sector Berliner Bank, the mortgage lender Berlin Hyp, and four smaller banks, was an experimental merger--the first combination of Germany's public- and private- sector banks.
The problem was that each bank had overlapping businesses and kept its own corporate structure to avoid running afoul of Germany's arcane banking laws, which require private-sector, public-sector, and mortgage banks to have separate management.
Only in the past month has Rupf, who has run the bank since 1997, put the finishing touches on a new organization that splits the group into three operating units: retail, international and investment banking, and real estate.
www.businessweek.com /magazine/content/01_28/b3740155.htm   (1182 words)

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