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It also says that this bank’s customers would be other financial institutions, but why they would need it is unclear, if they could also deposit their reserves
by Finnucane 8y ago
It also says that this bank’s customers would be other financial institutions, but why they would need it is unclear, if they could also deposit their reserves with the Fed.
- jey 8y agoYeah, so it must be intended for some kind of non-bank financial institutions that can't directly open Fed reserve accounts?
- JumpCrisscross 8y ago> some kind of non-bank financial institutions that can't directly open Fed reserve accounts? This describes every financial institution that isn't a national bank, e.g. broker-dealers, insurance companies, hedge funds, et cetera.