The system paid 2 percent interest per year on deposits.
He still had close to $1 million on deposit in four banks around the world.
But that is still small, compared with the total of $190 billion on deposit in California.
Nor have they been required to pay higher interest rates on their deposits.
The maximum interest rate on deposits is now 13 percent.
And for years, banks have had to pay higher rates on deposits.
The bank ultimately paid out over 80 percent on its deposits.
In particular, banks have been happy to sit on increased deposits at the Bank.
The lower rates have also reduced the interest paid on deposits.
In these cases, duty must be paid on deposit at the full rate.