Anticipating these changes, the Federal Reserve has designed a new approach to providing accounting services and a new reserve account structure. To meet the needs of depository institutions for the convenience of consolidated account management as well as the flexibility of multiple accounts, the Federal Reserve has proposed that each depository institution hold a single master account, which would be the view of the institution's actual credit and debit position vis-à-vis the Fed, with optional informational subaccounts.
The new account structure was developed in response to input from depository
institutions about their needs and after assessment of the Federal Reserve's current
account structure. The new account structure, with new accounting information services,
will be implemented on January 1, 1998. In addition, the Federal Reserve will support
special transitional arrangements as institutions undergo organizational changes.
The following documents provide more information on the new account structure. As more
information becomes available, these documents will be updated and supplemented.
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Last update: September 27, 2002