Word: lended
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Consider that the average yield on a one-year CD is 2.39%, the same as it was in mid-August, according to a weekly survey by Bankrate.com, even though the prime rate - the rate at which banks lend to their most creditworthy customers - has fallen from 5% to 4%. That means a bank that used to borrow at about 2.5% and lend at 5% now borrows at 2.5% and lends at 4% - an entire percentage point has been stripped from the bank's ability to make money. More than half of all banks saw their net interest margin - a measure...
...problems with all this is that in many cases the firms most aggressively competing for deposits aren't taking the money and lending it out but are instead holding on to it to buttress their balance sheets. Since consumers and businesses are so starved for credit, the banks that do want to lend the money forward are finding some ability to charge rates at a greater premium to prime, says Koch, but that doesn't necessarily make up the entire gap. Banks in general are still spooked by loans gone bad and nervous about lending to individuals and businesses without...
...right itself anytime soon. Many economists expect the Federal Reserve Board to again cut the target federal funds rate in mid-December in an effort to juice the economy by encouraging spending over savings. But that would probably also push down even further the rate at which banks can lend. "It would mean banks make a little less money across the board," says Bank of Alameda's Andrews. Not exactly a nice holiday gift...
...eccentricity.) In a 1996 interview with Ed Grant of the New York City cable access show Media Funhouse, Ackerman recalled that 165 people attended the confab. "We had a banquet so expensive that only 29 of us could afford it," he told Ed. "I couldn't even afford to lend the money to Ray Bradbury, 'cause it was one dollar a plate. Of course no food, you understand, just a dollar for a plate." Forry wore the spaceman outfit around the city, attracting cries of "Buck Rogers!" and "Flash Gordon!" from local children. He added: "They had an Esperanto convention...
...boost sales, and could wind up being surprisingly expensive. Here's their math: In order to get lenders to make the loans at below market rates, the government would have to basically pay banks the difference between the market rate and the 4.5% they would like banks to lend at - currently 1%. That would still leave a profit of 0.8% on every loan the government helped originate through the program...