Typically these laws allowed anyone to set up a bank, provided the issue of notes was backed with securities kept on deposit with the state banking authority.

Lloyds Banking Group, for example, has a loans-to-deposit ratio of 169%, according to research by Nomura Securities. Barclays and RBS are at 130% and 134%, respectively.

Nomura securities cancelled after the second half of 2011 and a raise interest rates, two times to raise deposit reserve rate forecasts.