Original Content
Federal Reserve Board requests public input on “payment account,” which eligible financial institutions could use for the limited purpose of clearing and settling their payments
Federal Reserve Board requests public input on “payment account,” which eligible financial institutions could use for the limited purpose of clearing and settling their payments
AI Summary
- Federal Reserve Board seeks public input on 'payment account' for clearing and settling payments.
- Eligible financial institutions could use this service, potentially impacting how they manage their payment processes.
Texas Relevance
The article does not explicitly mention Texas or any Texas-specific entities. It is a general federal proposal that applies to all financial institutions.