DEEP DIVE WITH DAVE JETTE

David Jette takes a deep dive in conversation with Rohan Dixit on the historic #AB857 legislation we passed last year with the California Public Banking Alliance. Among the topics discussed: Capitalization: what sources of capital can be used to capitalize the Bank? Collateralization: what mechanisms can we use to collateralize public deposits? (A letter of credit from the FHLB / Federal Home Loan Bank, for instance.) Governance: What are the governance models possible with the language of AB 857? For example, is there any explicit relationship between the city / cities depositing funds and the Bank governance? Regulatory Organizations: who are the major regulatory groups involved? e.g. FDIC, DFPI / Department of Financial Protection and Innovation, to what degree is the Federal Reserve involved or not involved).

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