Search Need bank insider

[vanon]

I need someone who either works in, or knows someone who works in, banking (could be a credit union, or other org).

Preference for one based in the US. If they don't work in a US bank, the bank needs to be able to directly work with the US Federal Reserve (having the OC-10 and other agreements). I only know how this works with the US Fed. Similar may exist for others, but I'm not sure.

The worker doesn't have to have a deep understanding, but this will use a combo of the Convention on International Bills of Exchange and International Promissory Notes; Uniform Laws for Bills of Exchange, Promissory Notes and Cheques. Bills of Exchange Act; The Federal Reserve's International Cash Services; Foreign Bank International Cash Services. This is to access various services and facilities provided by the Federal Reserve.

 

[vanon]

For consideration:

"Neither, as to include in its powers not incidental to them, is it a part of a bank's business to lend
its credit. If a bank could lend its credit as well as its money, it might, if it received compensation
and was not careful to put its name only to solid paper, make a great deal more than any lawful
interest on its money would amount to. If not careful, the power would be the mother of panics . .
. Indeed, lending credit is the exact opposite of lending money, which is the real business of
banking, for while the latter creates a liability in favor of the bank, the former gives rise to a liability of the bank to another." (American Express Co. vs. Citizens State Bank, 194 NW 429).

Well over 20 case laws that no bank can lend credit. Visa, MC, AMEX, and MC are just the payment networks. So, where does that credit come from? I know how it works in the US, and figure a similar method applies outside the US. Once that is learned, where can one go?

 

[Allwin]

Relevant?