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Federal Reserve Seeks Public Feedback on Limited-Access 'Skinny Master Account'

The U.S. central bank invites comments on a proposed restricted master account, aiming to define parameters for limited access to its payment systems.

Summary

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Terms & Concepts
  • Master Account: An account held at a central bank, providing institutions direct access to its payment and settlement systems.
  • Skinny Master Account: A proposed, restricted version of a central bank master account with limited access to certain services.
  • Federal Reserve: The central bank of the United States, responsible for monetary policy and regulating financial institutions.