Gov. Waller: U.S. Fed to 'Embrace Disruption,' Pitches 'Skinny' Master Account Idea
CoinDesk
Fed Governor Christopher Waller proposed exploring a 'skinny' master account for new payment entrants to access Fed rails.Summary
Federal Reserve Governor Christopher Waller announced at the central bank's first payments innovation conference that the Fed intends to "embrace the disruption" from the crypto sector. He revealed he has asked staff to explore a lighter version of the traditional "master accounts," which he termed a "skinny" payment account. This proposed account would grant new entrants access to the Federal Reserve payment rails while allowing the Fed to control risks by imposing limits, such as capping balances, not paying interest, and withholding daylight overdraft privileges or access to the discount window. Waller emphasized that the DeFi industry is no longer viewed with suspicion, signaling a new era for the Fed in payments.
(Source：CoinDesk)