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Six commercial banks all announced that they had lowered the rate for demand deposits, essentially a checking account, to 0.2 percent from 0.25 percent.

That number reportedly includes “personal property and demand deposit accounts, financial accounts, insurance policies and royalties.”

But now, sellers may demand deposits of $1,000, and sometimes as much as $2,500.

They did not take federally insured demand deposits from the general public who had no means of policing their affairs.

Commercial banks that wished to keep making loans would raise long-term capital in the debt and equity markets, ending the mismatch between demand deposits and long-term loans that can cause liquidity problems.