Penalties for the recalcitrant will include warnings and deposits of up to 0.2% of GDP into, first, interest-bearing accounts, and then into non-interestbearing ones.
If the credit card issuer applied the payment to the interest-bearing balance first, the customer would pay less interest overall.
如果信用卡发行人能够优先冲减有息债务,消费者支付的利息总额将大大减少。
3
So bank reserves matter because they are the foundation for other, "broader" kinds of money-current (checking) accounts, interest-bearing deposits and so on.