US FEDERAL RESERVE PROPOSES TO ESTABLISH LIMITED 'PAYMENT ACCOUNT' FOR SOME INSTITUTIONS PROPOSAL WOULD NOT EXPAND OR CHANGE LEGAL ELIGIBILITY FOR FED ACCOUNT ACCESS NEW PAYMENT ACCOUNT HOLDERS WOULD NOT HAVE ACCESS TO INTRADAY CREDIT OR FED'S DISCOUNT WINDOW, WOULD NOT EARN INTEREST ON FED RESERVES

2026-05-21

US FEDERAL RESERVE PROPOSES TO ESTABLISH LIMITED 'PAYMENT ACCOUNT' FOR SOME INSTITUTIONS PROPOSAL WOULD NOT EXPAND OR CHANGE LEGAL ELIGIBILITY FOR FED ACCOUNT ACCESS NEW PAYMENT ACCOUNT HOLDERS WOULD NOT HAVE ACCESS TO INTRADAY CREDIT OR FED'S DISCOUNT WINDOW, WOULD NOT EARN INTEREST ON FED RESERVES