Federal Reserve: Master Accounts and the Payment System
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- Опубликовано: 9 дек 2022
- Financial #technology (fintech) has led to innovation in retail payments by both traditional banks and fintech firms. Although these fintech firms do not provide traditional banking services, some have sought-and some have been granted-state or federal bank charters. For payment firms, a major motivation for seeking a bank charter is to obtain a Federal Reserve (Fed) “master account” to access wholesale payment systems and related Fed payment services (but not the Fed’s discount window) without needing a bank to act as an intermediary. More recently, cryptocurrency firms with state #bank charters have applied for master accounts in order to more seamlessly transact between crypto and official #currency.
Banks hold most of their reserves in master accounts at the Fed. Reserves are assets held as liquid cash balances, as opposed to funds invested in #loans or #securities. Banks were subject to minimum reserve requirements until 2020, when the Fed removed them. All types of payments between end users (such as #customers and #merchants) with different banks using different payment systems can be completed because master accounts are connected to each other at the Fed. Customer payments are aggregated and netted by banks, which can then #debit and #credit each other’s master accounts through wholesale #payment #systems, where they are cleared and settled.
Institutions must apply to the Fed to receive master accounts. These applications have typically been approved quickly for traditional banks, but some nontraditional applicants have reportedly faced delays, causing consternation. The growing number of nontraditional applicants has raised policy questions about who is and who should be eligible for master accounts (under existing law or through legislation), how transparent the application process should be, and what safeguards the Fed should impose on firms with master accounts.
Emblematic of this debate, two recent examples have attracted policy interest. First, the master account application of Reserve Trust, a fintech payment company with a state trust bank charter, was raised at the confirmation hearing for Fed nominee Sarah Bloom Raskin, who had previously served on Reserve Trust’s board of directors. Second, Custodia Bank, a Wyoming state-chartered special purpose bank specializing in cryptocurrency services, has sued the Fed for delaying a decision on its October 2020 master account application. Other examples of controversial applications include a public bank, a “narrow bank,” and a bank to provide services to cannabis businesses.
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Guidance and Legislation,
Policy Considerations, 
Развлечения
Always deal with the federal reserve attorney general and they will give you all the information to process the paperwork to take control of the trust and control it as a private banker and you can order money like the Bank dose it's your labor and we have to claim the age of majority act and then put in a afadvit of truth and documents that are going to have you the owner of the trust in due course and have a underwriter to be your trustee for the offsets of all accounts i have a house and I get two automobile's a year and have the organic original title and put it in a land patient for my house and property in a family living trust
Where can I learn to do what you have mentioned here?
OMG! Thats great! Where are you are you in America? Trying to be in touch with people in my area I'm in MASS.
How are you Dave I'm Ray, hope all is well with you & your family ... 🙂
I have been studying as well as testing the system throughout the years with the understanding that there is a process in place.
Although it's normal to be curious, i truly believe with all the evidence i have seen and studied through the years it has only prepared me for what's about to reveal itself.
It's clear to me how important this is, the responsibility that comes with being able to handle ones own personal affairs no matter what reasons or experience we've had.
Eventually there comes a time in our lives where one must do things right in order to find our place in life.
With that being said, I was wondering if maybe we can connect so i may complete this full circle and help set up my family & maybe those in need properly before i leave this earth.
Thanks for your time even if nothing becomes of this ... 🙏🏻🙂🙏🏻💯
Ps i try not to be skeptical of others, at the end of the day its all about proof.👍🏼
@@PrivateBanking411 that is really hard to get people to reply in here even emails and you know they don't want the phone calls so and you know they want to teach it to everybody but it's hard you know when you're actually getting down to doing it it's kind of scary as far as giving up my citizenship I don't know I'm kind of scared.
that's interesting, thanks for sharing. Hey would you happen to know how to exactly collect on any account that has been closed for years, ie: telephone acct, old car insurance acct etc? I heard one time that supposedly there is a specific form that can be filled out pertaining to an account and sent it.... I think to maybe the IRS? whereby they can collect on any proceeds, etc that have accrued on the acct and properly settle any outstanding accounting..??
The Federal Reserve Act of 1913 was made into a law under a proclamation which is official declaration that Woodrow Wilson signed. However what people fail to understand a proclamation is a non-binding notice and not an executive order.
So folks, when a notice is made, you need to dispute it or silently accept it.
I can teach or help guide. U will do on ur own my outline us mist current there is.
With the instrument or also known as presentment they refuse to honor is exactly the proof they are in dishonor. Read up on UCC section 3-501 through 3-505. It will educate you to see there is a process and how to collect the evidence of dishonor including attaching the copy of your presentment they stole. Then you draft or write a notice of dishonor using the law or the words of the codes which is the authority and makes sure you send the demand of payment ( invoice) in the value they kept also know this, from that time, notarize your notices, always send a invoice demanding payment and create a certificate of service that list all the documents and how many pages in total you are sending so they cannot say you didn’t mail everything. That is a proof of service also notarized but signed by someone else than you. Mail registered mailing with return domestic green card. Once they get it you can start filing with all your evidence to your UCC-1 lien. Since there was a case back in April of 2023 that was decided in Supreme Court UCC-1 has fair market value. Some bank are considering buying those and you won’t have to sue because you get paid from the sale, and the good news your build a lawful case with evidence which the banks themselves will go and collect to get their money back from them.
@@thrillbillyjp1 what’s your contact info
I tried to register, but couldn't...all Americans were made private banking institutions, in the private banking institution...now...thank you kindly...😊
This is awesome
Douglas-Dean:Billman, BENE
Google documentary collections and the federal reserve operating circulars 1-10
Can I email you? Or reach you somehow?
@@hanegiawhy?
How is that possible when the Fed is not FEDERAL
I'm a non citizen national. Not a 14th amendment citizen...they are property...I am no one's property...
I don't believe you that means you don't rent cars you don't shop for groceries you don't use banks and you don't use FRN's
In USA you can potentially become back a property if you are convicted of a crime.
Read the 13th amendment, American are still slaves, you just have conditional "freedom" not more. 😂
Where does it say a 14th amendment citizen is property?
A citizen is a person who, by place of birth, nationality of one or both parents, or naturalization is granted full rights and responsibilities as a member of a nation or political community.
Your "rights" were "granted" if you call yourself a "citizen".
The bigger question being,
"Who granted the rights to the citizen/s"?
I'm not asking, I'm demanding...
As-king, I demand thee!
AI should have regulations , policy, laws, and rules. Seems more important.
I do not ask governments or corporations to do anything, both are not my master...
Don't accuse me of any crime, until I commit one...got that...government works for me, not the other way around...I am the master here...register me for the class........you're dismissed...
U go ..very body should definitely do there own research and not call anybody on nothing in here or anywhere for that matter..there will always be haters but shit just ignore it y'know life is just to damn short iknow believe me I am doing this for like a few yrs and I learn something very day need just one 😇 angel a hippie, little spiritual and back in my blacks law, Cornell ,common law that's really good u can actually get everythg on that site and it's all private to ..But this chalbo and miss tamikar the bomb I can't wait to chat and show them this..
Are you telling me we have to apply to the master account what happen to the ucc1?
What do you mean what happened to ucc1 it is still applicable
You have to fill an app for ALL bank accounts! What are you talking about😂
That question is a lie🤔😭
Let the records show this........
Speak
Smells like discrimination