From the transcript

Thank you. Ms. Paradon, what are the potential risks of expanding FedMaster account access to businesses outside the traditional banking system? It's something that we have spent a lot of time thinking about, and we do have concerns that depending on whether the Fed ultimately does open up skinny accounts or payment accounts to entities that have not traditionally had access. Number one, it could potentially fundamentally shift deposits from insured institutions to uninsured institutions. The Fed itself has acknowledged that the institutions most likely to seek payment— a payment account are going to be uninsured institutions.