jpatokal
08-08-08, 07:42 PM
This line in the "100-200% of credit line held from foreigners?" story caught my eye:
If a foreigner has a Ministry of Foreign affairs card (meaning they are employed by a foreign embassy), this requirement is waived.
This is due to politics, not finance. Many banks are in fact very reluctant to extend credit to diplomats, because immunity makes it very difficult to claim back the money. The same applies to diplomats as tenants, particularly extraterritorial buildings like embassies and residences: several court cases in the US (http://www.straightdope.com/mailbag/membassy.htm) have found that they can't be evicted, even if they don't pay the rent!
If a foreigner has a Ministry of Foreign affairs card (meaning they are employed by a foreign embassy), this requirement is waived.
This is due to politics, not finance. Many banks are in fact very reluctant to extend credit to diplomats, because immunity makes it very difficult to claim back the money. The same applies to diplomats as tenants, particularly extraterritorial buildings like embassies and residences: several court cases in the US (http://www.straightdope.com/mailbag/membassy.htm) have found that they can't be evicted, even if they don't pay the rent!