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Central Banks Cannot Go Bust - But Can Cause Trouble
With speculation growing that the Fed could pull the trigger on QE3 next month and the ECB buying up bonds in the euro zone, analysts at ING in Amsterdam have been asking if it is possible for a central bank to go bust. “With governments increasingly unable or unwilling to further stimulate the economy, eyes are turning to the central banks once again,” said Teunis Brosens, a senior economist at ING in notes sent to CNBC before an interview on Monday. “The Fed’s capital is only $51.8 billion, a mere 1.8 percent of its assets. Any commercial bank with such a tiny capital cushion would immediately be declared ... (full story)
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