; and (2) by redesignating subsection (e) as subsection (d). 3. Real time payment system (a) In general The Board of Governors of the Federal Reserve System shall create a real time payment system that— (1) at a minimum, conforms with the principles outlined in the final report of the Faster Payments Task Force of the Federal Reserve System; (2) allows end users have fast access to funds, in speeds approaching real time; (3) operates as a utility, allowing end users to reach any other end user, including unbanked, underserved, and cross-border end users, regardless of the solution used by the end user; (4) prioritizes safety and soundness, consumer health, efficiency, and other relevant public interest considerations; (5) provides end users with the confidence and trust in the safety and security of the system by ensuring that— (A) fraud and errors are minimized and resolved quickly; and (B) the assets, accounts, and information of the end user are protected, even as payments cross different solutions; (6) has transparent operating information; and (7) ensures that there are no volume discounts made that disadvantage smaller financial institutions. (b) Real time payment system defined In this section, the term real time payment system means a payment-by-payment interbank settlement system that facilitates settlements in real time and at any time, on any day, including weekends and holidays.