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NII</image:title></image:image><lastmod>2014-10-13T22:54:45+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/10/01/kupiec-on-central-bankingplanning/</loc><lastmod>2014-10-03T00:12:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/09/30/ecb-policies-from-flop-to-flop-to-flop/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/europe-abs-issuance.png</image:loc><image:title>Europe ABS 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Africa</image:title></image:image><lastmod>2014-09-22T00:08:40+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/09/16/some-finance-artefacts/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_153104.jpg</image:loc><image:title>20140905_153104</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_153528.jpg</image:loc><image:title>20140905_153528</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_152853.jpg</image:loc><image:title>20140905_152853</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_152909.jpg</image:loc><image:title>20140905_152909</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_154216.jpg</image:loc><image:title>20140905_154216</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_154124.jpg</image:loc><image:title>20140905_154124</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140908_171141.jpg</image:loc><image:title>20140908_171141</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_154325.jpg</image:loc><image:title>20140905_154325</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140908_171119.jpg</image:loc><image:title>20140908_171119</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/20140905_131712.jpg</image:loc><image:title>20140905_131712</image:title></image:image><lastmod>2014-09-16T23:32:08+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/09/04/the-mystery-of-collateral/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/singh-m2-and-collateral.jpg</image:loc><image:title>Singh M2 and Collateral</image:title></image:image><lastmod>2014-09-08T08:05:21+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/09/02/breaking-banks-wont-help-economic-recovery/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/09/banks-fines.jpg</image:loc><image:title>Banks fines</image:title></image:image><lastmod>2014-09-02T22:42:20+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/31/a-couple-of-comments-on-house-of-debt/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/house-of-debt.jpg</image:loc><image:title>House of Debt</image:title></image:image><lastmod>2014-08-31T22:16:13+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/28/new-research-at-last-asks-the-right-questions-on-rwas/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/us-gdp-growth-basel-1.jpg</image:loc><image:title>US GDP Growth Basel 1</image:title></image:image><lastmod>2014-08-29T14:31:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/25/some-new-more-or-less-useful-research/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/stein-banks-securities-portfolio.jpg</image:loc><image:title>Stein Banks Securities Portfolio</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/ecb-leverage-indicators.jpg</image:loc><image:title>ECB Leverage Indicators</image:title></image:image><lastmod>2014-08-25T22:13:41+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/21/free-banking-the-track-record/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/unfree-banking-track-record.jpg</image:loc><image:title>Unfree Banking Track Record</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/free-banking-track-record.jpg</image:loc><image:title>Free Banking Track Record</image:title></image:image><lastmod>2014-08-21T22:19:57+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/18/secular-stagnation-factoring-in-banking-regulation/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/secular-stagnation-basel-6.jpg</image:loc><image:title>Secular Stagnation Basel 6</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/secular-stagnation-basel-5.jpg</image:loc><image:title>Secular Stagnation Basel 5</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/secular-stagnation-basel-41.jpg</image:loc><image:title>Secular Stagnation Basel 4</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/secular-stagnation-basel-3.jpg</image:loc><image:title>Secular Stagnation Basel 3</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/secular-stagnation-basel-2.jpg</image:loc><image:title>Secular Stagnation Basel 2</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/secular-stagnation-basel-1.jpg</image:loc><image:title>Secular Stagnation Basel 1</image:title></image:image><lastmod>2014-08-19T16:40:10+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/16/macroprudential-policy-tools-a-primer-guest-post-by-justin-merrill/</loc><lastmod>2014-08-16T12:41:44+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/15/central-banks-an-expanding-regulatory-toolkit/</loc><lastmod>2014-08-15T14:34:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/11/hummel-vs-haldane-the-central-bank-as-central-planner/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/hayek-on-planning.jpg</image:loc><image:title>Hayek Central Planning</image:title></image:image><lastmod>2021-12-07T14:26:55+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/06/raising-capital-requirements-not-that-useful/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/espirito-santo.jpg</image:loc><image:title>Espirito Santo</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/basel-3-timeline.jpg</image:loc><image:title>Basel 3 Timeline</image:title></image:image><lastmod>2014-08-09T22:16:38+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/08/02/flawed-models-history-ignorance-disastrous-policy-making/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/08/banking-model.jpg</image:loc><image:title>Banking model</image:title></image:image><lastmod>2014-08-04T10:30:23+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/30/continuously-ignoring-and-misinterpreting-history/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/vc3adtor-constc3a2ncio.jpg</image:loc><image:title>Contancio</image:title></image:image><lastmod>2014-07-30T23:24:25+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/28/financial-instability-beckworth-and-output-gap/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/bis-output-gap.jpg</image:loc><image:title>BIS Output Gap</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/fsf-output-gap.jpg</image:loc><image:title>FSF Output Gap</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/ms-output-gap.jpg</image:loc><image:title>MS Output Gap</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/1024px-actual_potential_gdp_output_gap_cbo_jan_09_outlook.png</image:loc><image:title>CBO Output Gap</image:title></image:image><lastmod>2014-07-28T22:53:04+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/24/whats-wrong-with-bloomberg/</loc><lastmod>2014-07-24T22:43:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/22/sovereign-debt-crisis-another-basel-creature/</loc><lastmod>2019-03-25T23:19:50+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/16/lars-christensen-on-yellen-and-bubbles-and-uk-regulators-at-full-speed/</loc><lastmod>2014-07-16T22:42:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/15/is-the-bis-on-the-dark-side-of-macroeconomics/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/darth-vader-bis.jpg</image:loc><image:title>Darth Vader BIS</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/bis-financial-cycles.jpg</image:loc><image:title>BIS financial cycles</image:title></image:image><lastmod>2014-07-15T23:16:50+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/12/a-tale-of-two-us-lending-curves/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/fredgraph-us-real-interest-rates.jpg</image:loc><image:title>fredgraph US real interest rates</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/us-lending-log-scale1.jpg</image:loc><image:title>US Lending Log Scale</image:title></image:image><lastmod>2014-07-12T22:17:28+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/09/is-the-us-dissociating-from-basel-banking-rules/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/us-lending-basel.jpg</image:loc><image:title>US lending Basel</image:title></image:image><lastmod>2014-07-14T10:05:14+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/07/02/a-brief-comment-on-piketty/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/economist-housing-uk-us-france-2.png</image:loc><image:title>Economist Housing UK US France 2</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/economist-housing-uk-us-france.png</image:loc><image:title>Economist Housing UK US France</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/piketty-france.png</image:loc><image:title>Piketty France</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/piketty-uk.png</image:loc><image:title>Piketty UK</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/07/piketty-us.png</image:loc><image:title>Piketty US</image:title></image:image><lastmod>2014-07-02T23:10:54+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/25/the-surprising-effects-of-negative-rates-on-german-banks/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/germany-new-lending-rates-spreads.jpg</image:loc><image:title>Germany New Lending Rates Spreads</image:title></image:image><lastmod>2014-07-16T15:53:51+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/24/unintended-intended-consequences/</loc><lastmod>2014-07-15T01:42:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/23/vince-cable-realises-too-late-what-banking-regulation-involves/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/vince-cable.jpg</image:loc><image:title>Vince Cable</image:title></image:image><lastmod>2014-06-23T22:08:41+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/18/the-era-of-the-neverending-bubble/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/global-property-prices.gif</image:loc><image:title>Global property prices</image:title></image:image><lastmod>2014-06-18T09:35:13+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/11/basel-vs-ecbs-tltro-the-fight/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/basel-vs-tltro1.jpg</image:loc><image:title>Basel vs TLTRO</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/european-new-lending-rates.jpg</image:loc><image:title>European New Lending Rates</image:title></image:image><lastmod>2014-06-12T12:04:15+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/10/the-negative-mechanics-of-negative-ecb-deposit-rates/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/austria-interest-rates.jpg</image:loc><image:title>Austria interest rates</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/france-interest-rates.jpg</image:loc><image:title>France interest rates</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/ireland-interest-rates-2.jpg</image:loc><image:title>Ireland interest rates 2</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/ireland-interest-rates.jpg</image:loc><image:title>Ireland interest rates</image:title></image:image><lastmod>2014-06-25T22:35:05+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/05/in-case-anybody-still-doubted-that-rwas-affect-banks-lending-allocation/</loc><lastmod>2014-06-06T14:30:21+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/04/calomiris-and-haber-are-pretty-much-spot-on/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/fragile-by-design.gif</image:loc><image:title>Fragile by Design</image:title></image:image><lastmod>2014-06-04T22:51:10+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/06/02/the-political-banking-cycle/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/06/political-banking-cycle.jpg</image:loc><image:title>Political Banking Cycle</image:title></image:image><lastmod>2014-06-03T23:34:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/05/30/the-boes-fls-delusion/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/05/uk-business-lending.jpg</image:loc><image:title>UK Business Lending</image:title></image:image><lastmod>2014-06-03T23:39:34+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/05/20/the-importance-of-intragroup-funding-the-19th-century-us-experience/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/05/windham-bank-private-note-1850s.jpg</image:loc><image:title>Windham bank private note 1850s</image:title></image:image><lastmod>2014-05-29T11:19:50+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/05/27/the-importance-of-intragroup-funding-19th-century-canada/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/05/banknote_of_the_colonial_bank_of_canada.jpg</image:loc><image:title>19th century Canadian banknote</image:title></image:image><lastmod>2014-05-27T23:40:35+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/05/12/is-regulation-killing-banking-for-nothing/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/05/intragroup-funding-flows.jpg</image:loc><image:title>Intragroup Funding 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cycles</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/fitch-2.jpg</image:loc><image:title>Fitch 2</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/fitch-1.jpg</image:loc><image:title>Fitch 1</image:title></image:image><lastmod>2015-01-28T00:20:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2013/11/08/banks-rwas-as-a-source-of-malinvestments-update/</loc><lastmod>2014-05-06T22:19:43+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2013/11/25/banks-rwas-as-a-source-of-malinvestments-a-graphical-experiment/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/capital-structure-macro-rwa-sme.jpg</image:loc><image:title>Capital Structure Macro RWA SME</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/leverage-rates-differential.jpg</image:loc><image:title>Leverage rates differential</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/capital-structure-macro-rwa-re.jpg</image:loc><image:title>Capital Structure Macro RWA RE</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/hayek.gif</image:loc><image:title>Hayek Structure of Production</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/11/capital-structure-macro.jpg</image:loc><image:title>Capital Structure Macro</image:title></image:image><lastmod>2014-05-06T22:19:18+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2013/12/03/banks-rwas-as-a-source-of-malinvestments-some-recent-empirical-evidence/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2013/12/20131019_fnc593.png</image:loc><image:title>mortgage business lending</image:title></image:image><lastmod>2014-05-06T22:18:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/05/06/a-new-regulatory-driven-housing-bubble/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/05/ft-house-prices.gif</image:loc><image:title>FT House Prices</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/05/the-economist-house-prices.jpg</image:loc><image:title>The Economist House 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meme</image:title></image:image><lastmod>2018-01-24T10:50:27+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/03/27/a-central-banker-contradiction/</loc><lastmod>2014-03-27T23:45:43+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/03/26/crowdfunding-naivety-and-scandals/</loc><lastmod>2014-03-26T23:59:22+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/03/20/the-economist-on-bitcoin-and-some-weird-claims/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/03/us-inflation.jpg</image:loc><image:title>US inflation</image:title></image:image><lastmod>2014-03-20T01:02:29+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/03/15/the-boe-says-that-money-is-endo-exo-or-something/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/03/banking-expansion-cycle.jpg</image:loc><image:title>Banking expansion cycle</image:title></image:image><lastmod>2018-12-01T00:25:56+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/03/12/could-p2p-lending-help-monetary-policy-break-through-the-2-lower-bound/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/03/wells-vs-lending-club.jpg</image:loc><image:title>Wells vs Lending 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1</image:title></image:image><lastmod>2015-02-21T20:50:15+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://spontaneousfinance.com/2014/02/17/a-clarification-on-mortgage-rates-for-asis-ben-southwood/</loc><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/02/bank-net-profit-profile-compression.jpg</image:loc><image:title>Bank net profit profile - compression</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/02/bank-net-profit-profile-simple.jpg</image:loc><image:title>Bank net profit profile - simple</image:title></image:image><image:image><image:loc>https://spontaneousfinance.com/wp-content/uploads/2014/02/lending-margins-over-boe.jpg</image:loc><image:title>Lending margins over 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