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depositors
noun
Plural of depositor
Exact(60)
"Now I live in worry that with the latest news that Cyprus's bailout requirements are going to be much bigger than thought, depositors will suffer even more," she said.
"Close to €30bn has been withdrawn by depositors and firms from bank accounts since December which is more that at the height of the crisis in mid 2012".
Now she lives in fear that, like other depositors with more than €100,000 in Cyprus, she will also fall victim to the raid on savings that the Cypriot government has been ordered to implement as the price of international aid.
Uninsured depositors would probably incur haircuts of the order of 35%, said senior sources involved in the negotiation.
That, in turn, led to capital flight as depositors rushed to convert their pesos into dollars.
Unlike a commercial bank, which can rely on a stable base of bank depositors, GE Capital must borrow its money in the wholesale markets, which tend to be more capricious, as Mr Gross has proved recently.
In theory, a regulator would be able to impose enough losses on shareholders and creditors to stabilise a bank over that brief first weekend without troubling depositors or taxpayers.
The ubiquity of Bank of America's heavily staffed nationwide branch network is what enables it to retain customers despite charging high fees and offering depositors low interest.
But this could cause panic among depositors in Italy, Spain and other euro countries with troubled banks.Rather than haggle between these two unappealing alternatives, Europe's policymakers should think more boldly.
The thorniest issue in Cyprus is the uninsured depositors.
If Cyprus's controls begin to look like a prelude to exit, depositors elsewhere on the periphery of the euro area might become very nervous indeed.
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