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4min chapter
A Masterclass In Central Banking | Professor Jane Knodell
Forward Guidance
What's the Difference Between Asset and Deposit?
If I had deposited money with a national bank and that national bank went down, I would be left in the lurch. If you however owned a bank note of a national bank, you could go to the treasury and you would be safe. Now the deposits, you are completely out of luck because the shareholders of national banks had double liability. So this is not like this, our new regime, which is there's no liability, you know. Wow. That's incredible.
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