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money removal

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sammmo | 06:57 Fri 17th Jun 2011 | Personal Finance
6 Answers
If everyone went to there bank and removed there savings ..What would the banks do?
We are not getting any interest on savings at the moment so if we started to remove savings would they have to increase there interest rates to keep us there.
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Avatar Image dasherman
They would probably just borrow more.
14:39 Fri 17th Jun 2011
Avatar Image ubasses
They would charge more to lend money as they would have to buy it in on the market.
14:41 Fri 17th Jun 2011
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they couldn't charge more to lend out money because they wouldn't have any money to lend
17:07 Fri 17th Jun 2011
Avatar Image woofgang
as i understand it, what banks lend is largely composed of what they borrow in big blocks from other financial institutions, not folk's savings.
17:10 Fri 17th Jun 2011
Avatar Image sammmo
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so what are savings used for?
17:14 Fri 17th Jun 2011
Avatar Image woofgang
they are also invested by the bank but only form a small percentage of all the banks available load resource.
17:44 Fri 17th Jun 2011

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