But is it a wrong turn from hunting the bank runs?
Not counting all deposits as liquid makes sense; but just seems all part of an inadvertent march towards narrow banking.
At some point: all the funding will come from private investors, not deposits. Maturity transformation will become much less important
Not counting all deposits as liquid makes sense; but just seems all part of an inadvertent march towards narrow banking.
At some point: all the funding will come from private investors, not deposits. Maturity transformation will become much less important