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> ... if you have the capital and do the paperwork and follow the regs, you can start a bank and get access to the discount window. Not true. There's this lit
by Eliezer 13y ago
> ... if you have the capital and do the paperwork and follow the regs, you can start a bank and get access to the discount window.
Not true. There's this little extra step where first the regulatory authority gets to decide whether your state needs another bank.
- RockyMcNuts 13y agosorry, I have no idea WTF you are talking about http://www.federalreserve.gov/faqs/banking_12779.htm http://www.federalreserve.gov/faqs/banking_12779.htm
- SilasX 13y ago>>Before granting a charter, the OCC or state must be able to determine that the applicant bank has a reasonable chance for success