If Countrywide or any other bank raised their relatively low CD rates, i'm sure they would be flooded with deposits. Countrywide just announced a $11.5 draw on their credit lines. I'm sure if Countrywide upped their CD rates to around the same rate that' s on the credit lines, around 6 1/2%, Countrywide could easily draw in $20+ billion in fresh deposits. In summary, I don't understand the headlines screaming "liquidity crisis" while banks are apparently not hurting at all for deposits and keeping their savings rates relatively low. Countrywide's highest yielding CD, for balances over $98,000, is 5.50%.
2007-08-16
05:39:17
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1 answers
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asked by
lucky_lenny_1964
3