Summary of Revisions
Effective as of January 1, 2024, Financial Accounting Manual for Federal Reserve Banks (FAM) revisions are primarily related to the establishment of a new program, the Bank Term Funding Program. Additionally, certain updates were made related to the transition of the Retirement Plan for Employees of the Federal Reserve System from the Federal Reserve Bank of New York to the Federal Reserve Bank of Atlanta. There were also minor updates clarifying policy guidance around assets and liabilities added, references to closed facility removed, accounts updates and maintenance performed, and policy and process updates included related to Federal Reserve's instant payments settlement service to depository institutions, the FedNow Service.
Summary of Revisions
Funding Facilities
Chapters 1, 7, and 8
Certain policy updates were made related to the establishment of the new funding program, the Bank Term Funding Program (BTFP).
- Paragraph 2.40—Loans (140-025, 140-050, 140-055, and 140-057)
- Paragraph 70.70—Bank Term Funding Program
- Paragraph 81.01—Allowance for Credit Losses
Transition of the Retirement Plan
Chapter 1 and Appendix F
Updated for the transition of the Retirement Plan for Employees of the Federal Reserve System from the Federal Reserve Bank of New York to the Federal Reserve Bank of Atlanta following the Office of Employee Benefits of the Federal Reserve System move to the Federal Reserve Bank of Atlanta.
- Paragraph 4.20—Deferred Charges and Prepaids (170-225 and 170-275)
- Paragraph 4.23—Prepaid Expense—Pension Costs (170-260)
- Paragraph 4.90—Miscellaneous Cash Items (170-425)
- Paragraph 11.30—Miscellaneous Deposits (220-400)
- Appendix F