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Goldman Sachs is Doing Something That Would Have Been Unthinkable Before 2008

Tuesday, April 26, 2016 9:19
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(Before It's News)

by Ciara Linnane
Market Watch

Investment-banking powerhouse Goldman Sachs Inc. is doing something that would have been unthinkable before the financial crisis.

The banker to the biggest companies around the world is offering online savings accounts to ordinary Americans with as little as $1 to deposit, as it moves to diversify its funding base and satisfy regulators.

The Federal Deposit Insurance Corp. is scheduled to review new rules on the amount of liquidity lenders are obliged to have on hand at a meeting Tuesday. The net stable funding ratio will require all banks to reduce their reliance on short-term funding that can be volatile, in favor of more stable long-term funding that is more expensive. The new rules are part of a broader effort to prevent a repeat of the 2008 crisis.

Continue Reading at MarketWatch.com…

The post Goldman Sachs is Doing Something That Would Have Been Unthinkable Before 2008 appeared first on Financial Survival Network.



Source: http://financialsurvivalnetwork.com/2016/04/goldman-sachs-something-unthinkable-2008/

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