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This makes sense: they are in effect charged with striking the appropriate balance between the interests of "Main Street" and Wall Street.
Fines meted out to banks for misbehaviour of which there have been plenty in recent years are in effect charged to shareholders.
In directing the Secretary to take into consideration ability to market, Congress in effect charged the Secretary with making a forecast of the marketers' capacity to perform in the immediate future.
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Some, including the Swedish and Japanese central banks, have brought in negative interest rates, in effect charging commercial banks to deposit money with them in a desperate attempt to make them lend it to businesses and households.
Already in June it lowered its main borrowing rate to just 0.15% and became the first big central bank to introduce negative interest rates, in effect charging banks for deposits they leave with it.
Mr Draghi also held out the possibility of reducing the deposit rate for banks to below zero, in effect charging banks for conserving money in the hope that they will lend more.
Much more strikingly the deposit rate paid to banks on overnight deposits, currently zero, will be lowered by a similar amount, to either minus 0.1% or minus 0.15%, in effect charging banks for funds they leave with the central bank.
Gas stations and convenience stores already have had the option of giving a discount to customers who pay with cash — in effect, charging more to consumers who pay with credit cards.
More important, it became the first big central bank to resort to negative interest rates by lowering its deposit rate, paid to banks parking funds with it, from zero to minus 0.1%—in effect charging them.
Mr. Draghi has floated the idea of a negative deposit rate — in effect charging banks to keep their reserves at the central bank as a way to prod them into lending more money to businesses and consumers.
Not only did it bring down its main lending rate from an already low 0.25% to 0.15%, but also it lowered its deposit rate, paid to banks for funds left with the central bank, from zero to minus 0.1%, in effect charging them for such deposits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com