This chapter considers the approximation of the transfer function of a linear system in terms of a causal filter bank. Assume that \(f\left( {{\rm{e}}^{{\rm{i}}\theta } } \right)\) with \(\theta \in [-\pi,\pi)\) is the transfer function of an arbitrary discrete-time linear system \({\cal L}\), and let \(\Phi = \left\{ {\varphi _k } \right\}_{k = 1}^\infty \) be a set of transfer functions of an orthonormal filterbank. It is assumed that f as well as all \(\varphi_{k}\) are elements of a certain Banach algebra \({\cal B}\) which characterizes the system theoretical properties of \({\cal L}\) and of the filterbank \(\Phi \). Moreover, since f as well as \(\{\varphi_{k}\}^{\infty}_{k=1}\) should represent causal systems, these transfer functions have to belong to the causal subspace \({\cal B}_ + \,{\rm{of}}\,{\cal B}\). Then, it is desirable to obtain an approximation of f in this filterbank of the form