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An airline is usually able to walk away from an option deal if it forfeits the modest deposit paid.
Suggesting policy makers and media commentators were willfully ignoring the plight of young, aspirational workers, Morgan added: "The current generation of first-time buyers are being denied the opportunity that their parents and grandparents took for granted, simply because they are unable to secure an affordable mortgage with a modest deposit.
"For generations 95% mortgages have been the norm... Yet the current generation of first time buyers are being denied the opportunity that their parents and grandparents took for granted, simply because they are unable to secure an affordable mortgage with a modest deposit," he said.
"Rising property prices are a concern for buyers, particularly first-timers who have saved hard for a modest deposit and are worried about being priced out further.
That's because Goldman and Morgan Stanley have very modest deposit operations -- giving them much less taxpayer-backed money to fund their risky operations.
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Meanwhile, retirees who don't dare buy stocks have seen their modest bank deposits stagnate with interest rates near zero (despite a recent significant increase in Treasury yields).
Being AAA-rated, AIG was able to post modest margin requirements the deposit it had to pay against the risk of the contract being triggered.
A day of even modest rainfall can deposit several million litres of water on a town or city".
In the event, Draghi announced a modest reduction in the deposit rate paid on reserves held at the central bank – which is already negative but falls further from -0.2%to-0.3%3% – and a six-month extension of the end-date for the ECB's €60bn-a-month quantitative easing (QE) programme.
As downpayments go it's pretty modest, more of a nickel deposit, really.
While my granny might have envisioned me putting down a deposit on a modest London property, I decided to put my stake in internships, hoping that they would be an investment for the future and bring security in the end.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com