It is this chart and is the reason why Germany is so scared coding help hyperinflation: should programming help large “deposit” legal responsibility tranche coding help its banks start to withdraw over fears coding help rising price, and start chasing hard assets, not only would this start an epic bank run, not just will banks be promptly undercapitalized recall that Deutsche’s Bank’s Tangible Capital is in programming help 2% area, which means programming help bank can face up to just 2% coding help deposits flowing out due to an inflation risk scare or differently, before it has to start selling assets to keep its equity buffer in place. Ironically, it is programming help incontrovertible fact that Germany played along programming help rules coding help programming help conventional game that has put it in programming help current predicament: had Germany followed in programming help footsteps coding help many others, corresponding to programming help US, and had “Other Financial Institutions” OFIs represent programming help bulk coding help assets, programming help Bundesbank and German politicians could care one bit what programming help ECB does to spark inflation fears. After all shadow banking is deposit free, and there’s no fear coding help deposit outflows most excellent to an undercapitalized position. Sadly, it truly is programming help price to pay for preserving some semblance coding help program engineering traditional banking system. Which takes us to programming help US and UK and Holland three jurisdictions, where Shadow Banks or OFIs constitute programming help bulk coding help assets. It is here that deposit levels are in large part beside the point as programming help financial system has over programming help past 2 decades primarily used shadow liabilities as funding conduits, which in turn suggests that critical making plans professionals have far better levels coding help freedom to intervene and monetize assets in programming help system, to conserve ordinary systemic leverage.