The Institutional Risk Analyst

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Robert Eisenbeis on Narrow Banks

In this issue of The Institutional Risk Analyst, we republish an important comment by Robert Eisenbeis, Vice Chairman & Chief Monetary Economist at Cumberland Advisors, on the fight to create narrow banks that do not require federal deposit insurance. This decision has broad implications for other parties seeking access to the Fed's payments network. For now, in order to gain access to a master account at a federal reserve bank, the applicant need be an "insured depository institution" as defined by Section 12 of the U.S. Code.

"Narrow Banks"