Julie Hill on the History and Recent Developments of Fed Master Accounts
Macro Musings with David Beckworth
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Getting Access to the Fed's Balance Sheet
The New York Fed handbook on how to start a bank was published in 1980. Since then, there have been many novel financial firms applying for access to Fedmaster accounts. On one hand, the Fed is opening up its balance sheet quite extensively but also very strict when it comes to allowing these novel banks to have access. How do you weigh those two different scenarios? We'll talk about narrow banks and crypto banks next.
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