Fed’s Waller Floats “Payment Accounts” to Streamline Access to Fed Rails: What a “Skinny” Account Could Mean for Payments and Digital Assets

Federal Reserve Governor Christopher J. Waller used the central bank’s inaugural Payments Innovation Conference on October 21 to propose a new “payment account,” a streamlined alternative to a traditional master account that would offer limited access to Federal Reserve payment services….
By: Venable LLP