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Re: In Search of Genuine DigiCash

[email protected] (Eric Hughes) writes:
  > ~"The cost of compliance in a typical USA bank is 14% of operating
  > costs."~
    ...
  > Now 14% is huge in terms of relative competitive disadvantage.  In a
  > tight market, even a 3% price difference in a commodity service is
  > enough to capture a market.  It's these kinds of effects combined with
  > international competition which will cause banking deregulation in the
  > USA.

Not necessarily. The real figure we need is not the US cost of compliance,
but the difference between US costs and costs in other major banking
markets.