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Royal Bank's expansion strategy has focused on more stable retail banking businesses.
The two biggest Irish banks did not have a large enough base of stable retail deposits.
A hot money tax would encourage banks to raise longer-term money or to attract relatively stable retail deposits.
Mr. Lee said relatively stable retail sales and employment reports, along with a flurry of mergers and acquisitions announcements, could drive up shares early next year.
This they duly did, very successfully, allowing the banks to prosper from investment-banking revenues while providing the investment dealers the funding and protection of large, stable, retail deposit bases.America's banking woes are not a result of deregulation.
Dynastic bull Patent fiction Buffing up Pass the tequila Peer pressure Opportunistic overheating Draghi and the dissenters An on-off relationship Economics writer Clarification ReprintsThe main victims of the rules were expected to be institutions lacking stable retail deposits, notably Goldman Sachs.
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Jobs have been more stable in retail stores, but the stability masks another decline.
Ms. Baker at Merrill Lynch said that about two-thirds of the sales at CVS or Walgreen stores were made by their pharmacies, "and that is probably the most predictable stable piece of retail out there".
In a shift from years when it liked to portray itself as an investment banking powerhouse with other businesses attached, Deutsche has taken to highlighting its "stable" businesses — principally retail banking and asset management — as investment banking became virtually synonymous with the financial crisis.
Discounters are another staple of Doenges' retail stable.
To be sure, De Beers, which controls about 60% of the market for rough diamonds, is eager to withdraw some of its tentacles from the volatile and somewhat controversial market for uncut diamonds and move into the more stable and respectable retail sector.
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