The link appears to be down; google cache is here [1]. Bloomberg's coverage is here [2]. The idea of the Narrow Bank is to do no banking; just deposit all dep

The link appears to be down; google cache is here [1]. Bloomberg's coverage is here [2]. The idea of the Narrow Bank is to do no banking; just deposit all deposits into its reserve account at the Federal Reserve, where it would draw 1.95% interest. They were denied an account at the Fed, and have sued [3] to get their account. Although the Narrow Bank is set up to allow only institutional clients, the case has apparently been drawing attention because if such a bank offered retail banking services, then it could be very exciting, since they are engaged only in risk-free activities and can still deliver a higher return on investment than the existing retail and commercial banks. [1] https://webcache.googleusercontent.com/search?q=cache:uJXGESCR4MAJ:https://monetary-metals.com/why-the-fed-denied-the-narrow-bank-report-9-sep-2018/+&cd=1&hl=en&ct=clnk&gl=us https://webcache.googleusercontent.com/search?q=cache:uJXGES... [2] https://www.bloomberg.com/view/articles/2018-09-06/fed-rejects-bank-for-being-too-safe https://www.bloomberg.com/view/articles/2018-09-06/fed-rejec... [3] https://faculty.chicagobooth.edu/john.cochrane/research/papers/Complaint%20(filed).pdf https://faculty.chicagobooth.edu/john.cochrane/research/pape...