In the twenties large banks had assumed control of Hollywood production companies.

To adapt, the bank assumed a risk profile that was "conservative, close to home and opportunistic," he said.

In this view, the central bank already assumes a weak December job performance, with payrolls down perhaps 75,000 or more.

A Saudi official disagreed with the bank's view, but said it had hurt his country because other central banks assumed it was accurate.

Ikey breathed a silent sigh of relief; the bank, it seemed, had assumed its normal routine.

As a practical matter, he said, it appears that the bank assumed the cost of sending the letter writer his interest check.

Both banks assumed a joint guarantee of capital and reserves of over 1 billion marks.

Further, at the third stage the European central bank will assume complete responsibility for the union's monetary and exchange rate policies.

In some "no cost" or "low cost" deals now being offered, borrowers get a higher interest rate and the bank assumes the closing costs.

Even the most strongly stability-orientated central banks assume that inflation rates of less than 2 % actually mean currency stability.