At the time of the transactions, interbank call loans
were not considered for taxation purposes, the high court said, citing the 1977 Tax Code.
Table 3 illustrates one link between call loan
rates and aggregate NYC bank clearinghouse deposits and reserves.
Hence, a substantial devaluation of call loan
assets would seriously weaken their balance sheets and threaten their solvency.
36) The call loan
rate did have a statistically significant seasonal pattern between January 1919 and December 1927.
Given the tone and content of the debate, an asset-backed currency from some form of decentralized banking structure with reserve holdings insulated from the call loan
market now seemed possible.
Leaving its monetary policy unchanged, the policy board has voted to keep the bank's unsecured overnight call loan
rate at a range of 0.
The policy board of Japan's central bank has also voted unanimously to leave the unsecured overnight call loan
rate at 0.
The weighted average of unsecured overnight call loan
rates dropped to zero for the first time in the Tokyo market Monday, money traders said.
At the end of two-day policy meeting, Bank of Japan's (BOJ) Governor Masaaki Shirakawa and his six board colleagues voted unanimously to keep the unsecured overnight call loan
rate on hold.
The BOJ board has voted unanimously to leave its unsecured overnight call loan
rate unchanged at 0.
The brokers also noted major commercial banks -- long-time call loan
takers -- have had less need for call loans
due to the mammoth inflows of ordinary deposits into large banks in recent months.
5% and steering the weighted average of overnight unsecured call loan
rates to around 0.