Has anyone heard of a rumour/sales spiel doing the rounds of the retail business unit of CBA, that around the 29th they are "considering" in certian areas to offer a once off/day only TD rate of 10%. Not to sure of the term as yet? Surely this can't be true but I have heard from various reliable sources.
If this is true, then looking at the economic record, I can only recall this happening once recently. (I'm sure elsewhere but not as I am aware). During the early 1990's in Japan. Banks with a larger percentage of their loans which where "not performing", that is to say they are not receiving payments on them, but have not yet written them off, were struggling to lend more money, they were forced to increase their cash reserves to cover bad loans.
How much exactly did they lend to Centro and the likes?
Obviously it would not be panic stations with a once off special in the retail branches and their other units performing well but on an economy overall perspective....if this was the case grey skies only semm to be starting to appear!!
Has anyone heard of a rumour/sales spiel doing the rounds of the...
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