Statsministeren på Island har bestilt en report om den finansielle krise på Island, og den anbefaler en ophævelse af fractional reserve banking, se ovenfor.
Her er lidt citater fra Rapporten:
"A stable and adequate money supply is a fundamental requirement for a well-functioning economy. Excessive expansions/contractions of the money supply can lead to inflation/deflations of the price level as well as booms/busts in economic activity. Until recently, the process of money creation has been widely misunderstood. Most economic textbooks explained money creation based on the “money multiplier model”, but as will be explained in Chapter 3.1 this is not what happens in reality."
Og videre:
" A bank does not need to acquire money from a saver before it can make a loan to a borrower. Through some simple double entry accounting, when a bank lends money, it increases both the quantity of money in the economy, as well as the quantity of debt."
Og videre:
"It is widely believed that the ratio of capital to assets can be used as a regulatory tool to control a bank’s lending. The Basel Capital Accords stipulate that the ratio of a bank’s capital to its (risk-weighted) assets must not fall below some pre-determined amount. For Basel I and II, this was 8%. For Basel III the ratio will be increased via additional capital buffers. In theory, under Basel II, if the ratio of a bank’s capital to its risk-weighted assets falls below 8% the bank would be unable to increase it’s lending any further without increasing its equity."
Og Videre:
"The credit creation model states that, rather than lending out money that banks acquired from customers, banks actually create new money when they lend. When banks lend, they simply create a deposit in the name of the borrower equivalent to the borrowed amount. This new deposit can be used to make payments and is an increase in the money supply. If a bank needs central bank reserves to settle any payments to other banks that arise as a result of it’s lending, it will be able to borrow them either from the CBI or from other banks."
Og videre:
"Commercial banks both create and delete electronic money (in the form of deposits). Deletion of money happens when a bank accepts a deposit as repayment of a loan, or when a bank sells an asset and accepts a deposit as payment. Through simple double entry bookkeeping, the liability (the deposit account) is debited and the asset (such as a loan account) is credited. Both sides of the balance sheet are reduced."
