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Fed Seeks Public Comments on 'Payment Accounts' for Limited Settlement

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The Federal Reserve announced it will seek public comments on 'payment accounts' designed to support Countering the Financing of Terrorism efforts. These accounts would let eligible institutions handle limited payment settlements without interest, credit access, or balance flexibility. The move aims to boost payment innovation while safeguarding the system. Risk-on assets could see indirect effects as financial firms adjust to new compliance measures.
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