; and (B) does not include a contractor-operated facility offering postal services. (6) Postal Service The term Postal Service means the United States Postal Service. 3. Authority and mandate for member banks to maintain pass-through digital dollar wallets (a) Obligations of member banks (1) In general Member banks shall open and maintain pass-through digital dollar wallets for all persons, including persons eligible to receive payments from the United States pursuant to a Federal law relating to the coronavirus disease 2019 (COVID–19), who elect to deposit funds into pass-through digital dollar wallets. (2) Maintenance of assets (A) In general Each member bank shall establish and maintain a separate legal entity for the exclusive purpose of holding all assets and maintaining all liabilities associated with pass-through digital wallets. (B) Contents The assets of any entity described in subparagraph (A) shall consist exclusively of a balance maintained in a master account at a Federal reserve bank, and the liabilities or obligations of the entity shall consist exclusively of an equal quantity of balances maintained by holders of pass-through digital wallets. (C) Capital or liquidity regulation The assets and liabilities of any legal entity described in subparagraph (A) shall not be deemed assets or liabilities of the member bank or its affiliates for purposes of any capital or liquidity regulation promulgated by Federal or State banking authorities. (D) Online application requirement for large banks Member banks with total consolidated assets greater than $10,000,000,000 shall promptly offer application, through online or telephonic means, for pass-through digital wallets. (b) Terms of pass-Through digital dollar wallets Pass-through digital dollar wallets— (1) shall not be subject to any account fees, minimum balances, or maximum balances and shall pay interest at a rate not below the greater of the rate of interest on required reserves and the rate of interest on excess reserves