Account Services Setup

Thank you for choosing Account Services. We are excited to work with you to make this a smooth and easy transition. Following are the steps you will need to take to streamline your implementation process, including contacts to help you with questions at any step along the way. If you need overall advice in any step of the process, consult your local Account Services contact.

Step 1 - Complete an Official Authorization List (OAL), a Board Resolution and the OC 1 Appendices 1-5 (Agreements and Forms)

In order to begin working with the Federal Reserve Banks, all financial institutions that maintain an account at a Federal Reserve Bank must have current Official Authorization List (OAL) and a Board Resolutions in the standard form required by the Federal Reserve Banks on file prior to submitting Appendices 1-5 from Operating Circular (OC) #1. Appendices 1-5 determine your account type and settlement relationships. Please note that the individual signing the appendices must be listed on the OAL in order for the request to be processed.

Institutions that do not have an account with the Federal Reserve but wish to have access to Federal Reserve Financial Services should also have a current Official Authorization List (OAL) and A Board Resolution on file.

Following are links to steps you should take to streamline your implementation process. Prior to completing setup for the services you need, determine which forms you must complete based on the type of account you hold with the Federal Reserve Banks.

Step 2 - Determine your Account Status

Review the links below to determine your account status. Your account status will determine which forms you will complete after determining which access solutions and account services you need.

Step 3 - Select Service Options and Premium Service Options

Use the following links to determine what service features are right for your institution. Additional services are available to enhance your Account Services selections, including access to more detailed information in downloadable formats.

Step 4 - Assess Access Needs

Use the following links to determine which access solution provides the Account Services you determined your organization needs and the number and type of Subscribers who will need access to those solutions in your organization.

Step 5 - Review Rules and Regulations

Federal Reserve Financial Services use is governed by applicable Operating Circulars (OCs). In addition, the Board of Governors of the Federal Reserve System has responsibility for implementing certain laws pertaining to a wide range of banking and financial activities. The following apply to Account Services.

OC 1: Account Relationships

Governs the opening, maintenance and termination of a master account with the Federal Reserve Banks.

OC 5: Electronic Access

Governs electronic access to services and applications provided by the Reserve Banks.

Regulations (Off-site Link)

Congress has assigned to the Board of Governors of the Federal Reserve System responsibility for implementing certain laws pertaining to a wide range of banking and financial activities.

Step 6 - Review Setup and Processing Documentation

Implementation and user guides and other resources are available for your review to help you through the start-up process, as well as to help you use a service to its fullest potential.

Account Management Guide (PDF)

Provides additional valuable detail on holding an account with the Federal Reserve Banks.

Step 7 - Complete Forms/Agreements

Now that you've determined the access solution that provides the Account Services you desire and fulfills your institution's Subscriber needs, you can subscribe to the necessary Electronic Access and Accounting Information Services.

Step 8 - Congratulations! Begin using Federal Reserve Financial Services

You can begin using services with the Federal Reserve Banks. Visit Service Offerings to review the many valuable services offered by the Federal Reserve Banks.

Top of Page