In the first place
In the first place, the subsidising of major banks has moved towards a more prominent dependence on wholesale subsidising (wholesale deposits, repurchase obligations and other currency market instruments) from institutional and corporate speculators (both financial and non-financial)-a commonly more unstable resousrce of subsidizing than conventional retail deposits.
At time of serious market stress, modern wholesale financial specialists tend to display intense hazard avoidance. This was made obvious by the extreme funding issues experienced in 2008 by major U.S. investment banks that had an unstable retail deposit base. At such circumstances, speculators can request higher pay for risk and better rebates to collateral assets with doubtful cash flows, demand banks to approve liabilities at greatly shorter developments, or reject to enlarge financing. In these cases, refinancing sources have to be encountered rapidly to supplant the loss of financing.