Federal Reserve Governor Christopher Waller has sought to clear up confusion about his proposal for the creation of a “skinny” master account by saying the accounts would only be made available to chartered depository institutions.

Speaking at a conference, Waller said he proposed the payment account because he didn’t believe it made sense for the Fed to have a single master account for every bank, given the sector’s wide range of business models. 

Author: sdbrownlow

Student of Design