Fed's Waller: streamlined payment accounts to be operational by 4Q 2026

Nov 12 (Reuters) - The U.S. Federal Reserve aims to get a new set of streamlined payment accounts that would broaden access to Fed payment services operational by the fourth quarter of next year, Fed Governor Christopher Waller said Wednesday.

"We're moving at startup speed on this: we're not screwing around like federal regulators," Waller said as he announced the accelerated timeline for the creation of the risk-tailored new accounts that nonbanks can access, plans for which were first announced last month. "I try to live the mantra is we are a new Fed: we are moving, we are doing things, we have to act."