In my last post I wrote about the lawsuit TNB USA Inc has filed against the New York Fed, which has refused to grant the would-be bank a Master Account. I argued that, despite its name (TNB stands for "The Narrow Bank"), and despite what some commentators…
Dedicated Alt-M readers may recall my having reported here several years ago the suit filed by Colorado's Four Corner's Credit Union against the Kansas City Fed — after the Fed refused it a Master Account on the grounds that it planned to cater to Colorado's marijuana-related businesses….
Over the last couple of decades, reserve requirements all but vanished as a means of bank regulation and monetary control. But now a new variation on reserve requirements is being introduced through the capital controls of the Basel Accords. Canada, the UK, Sweden, Australia, New Zealand, and…