Julie Hill on the History and Recent Developments of Fed Master Accounts
Macro Musings with David Beckworth
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Fed Master Account - Is TNB a Better Bank?
The narrow bank is a Connecticut chartered bank and they want to accept deposits, big deposits from institutional investors. They asked the Federal Reserve Bank of New York for a master account but then nothing happened. The Fed's argument in this suit is, look, we haven't made a decision yet. And the court considers it and says, well, it's right. But nonetheless, we'll come back to that discussion because you have some thoughts on that as well.
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