Nov 4 (Reuters) – The U.S. Federal Reserve is looking for touch upon a proposal to publish an inventory of depository establishments which have entry to grasp accounts, which grant corporations entry to Fed cost providers.
The proposal would require regional Fed banks to periodically disclose which corporations have entry to accounts and funds providers, which the Fed stated would lead to extra transparency.
In August, the Fed finalized tips for the way it will evaluate requests by banks, fintechs and different corporations to entry the central financial institution’s grasp accounts and cost methods, as quite a lot of new nontraditional monetary establishments have emerged and begun looking for entry to such accounts.
Reporting by Hannah Lang in Washington
Enhancing by Chris Reese
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