The Central Bank should have a permanent window for discounting high quality securities where banks could go and discount these. It gives peace of mind to the banks. In the absence of this facility, what banks tend to do is to keep a liquidity cushion for emergency requirements. This is a very expensive way of managing liquidity.
Abdul Aziz Al GhurairRelated topics
absence bank central cushion discount emergency facility gives high liquidity managing mind peace permanent quality should way window banksRelated quotes
You see, wire telegraph is a kind of a very, very long cat. You pull his tail in New York and his head is meowing in Los Angeles. Do you understand this And radio operates exactly the same way you send signals here, they receive them there. The only difference is that there is no cat.
Albert Einstein
A few profit – and the many pay. But there is a way to stop it. You can't end it by disarmament conferences. You can't eliminate it by peace parleys at Geneva. Well-meaning but impractical groups can't wipe it out by resolutions. It can be smashed effectively only by taking the profit out of war.
Smedley Butler
I would rather be ashes than dust! I would rather that my spark should burn out in a brilliant blaze than it should be stifled by dry-rot. I would rather be a superb meteor, every atom of me in magnificent glow, than a sleepy and permanent planet. The function of man is to live, not to exist. I shall not waste my days trying to prolong them. I shall use my time.
Jack London
Abba Macarius was asked, How should one pray? The old man said, There is no need at all to make long discourses; it is enough to stretch out ones hands and say, "Lord, as you will, and as you know, have mercy." And if the conflict grows fiercer say, "Lord, help!" He knows very well what we need and he shews us his mercy.
Macarius of Egypt
For Christians above all men are forbidden to correct the stumblings of sinners by force...it is necessary to make a man better not by force but by persuasion. We neither have authority granted us by law to restrain sinners, nor, if it were, should we know how to use it, since God gives the crown to those who are kept from evil, not by force, but by choice.
John Chrysostom
