Savings banks

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In England, after 1858, the critical need was not for banks to buy large blocks of shares in industrial companies (Industrial investment banks); it was for institutions that would attract savers to hand over their deposits, creating an ever expanding basis for new bank lending on the other side of the balance sheet. New savings banks proliferated at the turn of the century. By 1913, British savings bank deposits amounted to roughly a quarter of all UK deposits. The assets of German savings banks were more than two and a half times greater than those of the better known ‘great banks’ like Darmstadter, Deutsche, Dresdner and the Disconto-Gesellschaft. All told, by the eve of the First World War, residents’s deposits in British banks totalled nearly 1.2 billion pounds, compared with a total bank note circulation of just 45.5 million pounds. Money was now primarily inside banks, out of sight, even if never out of mind.

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  1. If Your Savings Pays Less Than 2.7%, You’re Losing Money—Here’s How to Fix It https://www.investopedia.com/if-your-savings-pays-less-than-2-7-percent-youre-losing-money-heres-how-to-fix-it-11772708

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