[tasubotadas]

Crazy. How did the story with narrow bank end?

[fuoqi]

You can be your own narrow bank by directly investing into short-term bonds or by buying a money market fund.

[rocqua]

That has massive fee friction, does not eliminate counter party risk entirely, and earns different (lower?) rates than the Fed offers.

[chrchang523]

I don’t know how long this will last, but I started doing this recently with Vanguard’s VUSXX (short-term Treasury) fund when I realized it had significantly higher after-tax yield than high-interest savings accounts without the hassle of manually rolling over T-bills, and it looks like many other people have been moving in this direction.

[guepe]

If you buy t-bills yourself fees are low, and brokers aren't banks - so risk of money being stuck there is low.

It's a bit of work but very manageable. 10/10 recommend, you earn more than a savings account.

[ac29]

Fees on buying treasuries are zero if you buy them directly from the treasury or any of the large brokers (Vanguard, Fidelity, etc).

[SOLAR_FIELDS]

I’m curious about this as well, because the top comment (TNB takes over an existing bank that already has this account) seems like a perfectly viable alternative. Given that they had the resources to get to this point in the first place, was there a reason why this wasn’t an option?

[xyzzyz]

It’s dead.