The "risky'' bank deposit
tax would be "extremely dangerous'' for wider economic confidence, shadow treasury minister Chris Leslie said.
Failures of both high-profile and local banks have a greater effect on bank deposits
than economic conditions.
BRSA said 1-3 month maturity bank deposits
were worth 250.
At present, several deductions like life insurance premium, payment of housing loan principal, taxsaving bonds issued by various institutions, investment in mutual funds ( MFs), bank deposits
and small savings schemes with different minimum tenures, and pension schemes are clubbed under Section 80C.
This shift of household savings from domestic bank deposits
to overseas assets (foreign currency deposits, bond funds, leveraged currency trades, etc.
will introduce later this year to its clients a bank deposit
program that offers FDIC insurance, competitive interest rates and the opportunity to earn higher interest rates based on account type and household asset values.
The proposal would be the first limit imposed on interest rates on bank deposits
since their liberalization in October 1994.
While most Wall Street money center banks were able to transfer operations quickly to contingency sites, a few banks had difficulty making payments, causing their Reserve Bank deposits
to grow rapidly.
For example, the Service tracks funds from known sources to deposits made to a taxpayer's bank accounts, rather than analyzing bank deposits
to identify unreported income from unknown sources.
DIC) said Monday it plans to issue four-year, government-guaranteed bonds worth up to 100 billion yen per month through next March 31, in a bid to secure a stable method of preparing reserves for the possible refund of bank deposits
Just as households in the late 1970s shifted their money out of traditional bank deposits
into money market mutual funds, households today are shifting out of M2 deposits at banks and thrift institutions and into higher-yielding bond and equity mutual funds.
Global Banking News-January 9, 2014--Pakistan bank deposits