Operated by International Institute of Certified Professional Accountants Verein associated with International Institute of Certified Public Accountants IICPA incorporated in the State of Delaware and Michael Schemmann, PhD, CPA, ICPA, Managing Director on this

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But it is difficult to explain, and it provokes violent prejudice by coming into conflict with the deep instincts by which the love of money protects itself.

— John Maynard Keynes (1924), "A Tract on Monetary Reform." "Public Finance and the Value of Money."


If a commercial bank, savings bank, or other financial service institution (the "bank") has been audited by professional accountants and licensed by us to display the 100PERCENT.MONEYSM logo, it means that in the auditor's opinion the bank meets the 100PERCENT.MONEYSM Standards, which include, but are not limited to, a commitment and practice to keep its customer deposits effectively one hundred percent liquid in legal tender money and its equivalent at all times, having segregated its deposit taking business one hundred percent from all other activities, including lending, trading, investing, foreign exchange, or other business(es), in such a way that the bank's customer deposits are NOT a part of the assets (or other categories of classification, as the case may be) in the bank's voluntary or involuntary process of liquidation, association, merger, bankruptcy or other proceedings.

The standards set by 100PERCENT.MONEYSM — guided by the British ring-fencing provisions of the Financial Services (Banking Reform) Act 2013 (see Bank of England, "Prudential Regulation Authority, retrieved 2017-07-23 online) — aim to "minimise disruption to the continuity of the provision of core services" of ring-fenced banks (RFBs). "They are also intended to ensure that RFBs, and groups containing RFBs, can be resolved in an orderly manner with minimal disruption to the provision of core services. The Act defines three ‘core services’:

    - facilities for the accepting of deposits or other payments into an account which is provided in the course of carrying on the core activity of accepting deposits;
    - facilities for withdrawing money or making payments from such an account; and
    - overdraft facilities in connection with such an account."
100PERCENT.MONEYSM auditing and licensing does not mean that the business’s products or services have been evaluated or endorsed by the auditor or licensor, or that the auditor or licensor has made a determination as to the bank’ product quality or competency in performing services.

Banks are under no obligation to seek 100PERCENT.MONEYSM licensing, and some banks are not licensed because they have not sought 100PERCENT.MONEYSM licensing.

Image and article: Albert Steck, NZZ 10.06.2017 (fair use) | Legal disclaimer: The owner(s), operator(s), agent(s), webmaster(s), or anyone associated with this website is/are not responsible for the content of websites directec by way of link(s), and are not engaged in legal or professional advice, for which the services of professional consultants and/or attorneys must be sought.

Created/updated 2017-07-23