“A lawsuit against the Federal Reserve Bank of New York could complicate the central bank’s effort to control short-term interest rates at a time when investor scrutiny of those markets is intensifying. TNB USA Inc. contends in a federal suit filed in late August that it has been wrongly blocked in its pursuit of a “master account” at the Fed that would allow it to earn interest on deposits placed on the Fed’s books.”
Article by Michael S. Derby, WSJ.com
Read Full Article