Household Saving in China

So, even if it is desirable that the postal bank should attract funds in a confidence crisis, the systemic benefits will not be felt unless the “exit” side of the system is designed to assure prompt recycling. And, even if such recycling is sufficiently automatic to keep the postal bank’s role on the lending side completely neutral, distortions can still result unless prices are set to reflect fully the actual costs and risks of the products offered. One approach to both problems might be to revive the 19th-century European idea of postal savings as a sort of “narrow bank”: a bank that would invest only in.

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