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We're over accounting rules and that's what this was and we now have to consider that exact question

and that's what we're doing. I can't really, I can't really say more because we are working our

way through it. But my understanding of it is the same as yours though, which is custody assets

are off balance sheet have always been.

But this is, you know, the SEC made a different decision as it relates to digital assets

for reasons it explained, and now we have to consider those.

Yeah, and thank you.

I encourage you to consider that and appreciate that you're looking at it and you're aware of it.

That's great.

So I'll turn to master accounts now, of course. The board and the reserve banks have refused to

provide Congress and the public with transparency with regard to the application process.

At its core, a master account is a public benefit, conferred by the Fed to a private institution.

And since a master account is a public benefit, really doesn't the public have a right to know which institutions have master accounts and which have applied for accounts and not receive

them. Both the FDIC and the OCC publicly lists similar application information on their websites

today. So could you commit, as part of a transparency project to make publicly available a list of institutions

that have received master accounts as well as the institutions that have applied and not received

them. I'll be glad to look into that. You know our system well, and it really is that the Fed,

the board, you know, we set rules, but the reserve banks really make the decisions

about granting accounts subject to those rules. And we're trying, we actually think we can improve

on that system with the current proposal we have and are considering comments

on that right now, as I'm sure you know very well.

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