Small banks had small banks' troubles.
Big banks had big banks' worries.
They were all different.
The problems of small banks could basically be solved with money. Outside the Big Seven Banks, the Federation actually had many Private Banks.
Because of the "Anti-Monopoly Law," as long as people met the requirements of the industry regulations, they could easily enter any industry.
In the Federation, there was only an Access System, not a real barrier to entry. It was not as if a company could meet the entry standards and still be stopped from entering the industry.
Such behavior was illegal in itself.
How should one put it? Private Banks...
They were very characteristic of the Federation! The Federation was a multiethnic immigrant nation, and there was no single unified race here. Almost everyone came from a different country.
Before coming to the Federation, they had different cultural backgrounds, different religious beliefs, and different values and moral standards.
In the end, they all came here.
Although these people seemed to have integrated into the Federation on the surface, many of them remained more or less separate from the Federation's system when it came to their personal finances.
That was also why so many Private Banks existed in the Federation!
Serving their own ethnic groups had become the main business purpose and source of clients for these Private Banks.
They established banks, helped their fellow countrymen safeguard their assets, and then paid them interest on their deposits according to the standard rate.
As long as these Private Banks met industry standards and had sufficient reserves, the Financial Supervisory Commission would issue them licenses in batches.
However, Private Banks did not have a high enough "security rating." So even if they had a large number of depositors and deposits, they could not take