[Anchorage Digital: The Federal Reserve's Proposed Payment Accounts Cannot Replace Traditional Master Accounts] According to The Block, federally chartered national bank Anchorage Digital stated that the Federal Reserve's proposed payment accounts cannot replace traditional master accounts. In a comment letter, Anchorage supported the Federal Reserve's efforts to modernize access to payment systems but pointed out that the proposed accounts lack FedACH access, impose overnight balance limits, do not provide intraday liquidity, and do not pay interest on reserves. 'For master accounts that member national banks have held for over a century, this is not a viable alternative,' Anchorage noted. Anchorage expressed concerns that the lack of FedACH access would force it to continue relying on intermediaries for daily payment settlements and emphasized that streamlined master accounts should include interest on reserves. Last year, Federal Reserve Governor Christopher J. Waller introduced the concept of 'streamlined master accounts.'