Master Account

A master account is the record of financial transactions that reflects the financial rights and obligations of an account holder and the Reserve Bank. It is also where opening and closing balances are determined. Separately chartered institutions receive a single master account at a designated Federal Reserve Bank where all credits and debits arising from financial transactions with the Federal Reserve Banks will settle. Master accounts are identified by nine-digit Routing Transit Numbers (RTNs).

Foreign-related institutions. U.S. branches and agencies of the same foreign bank and Edge and Agreement Corporations will have a single master account for each group of offices located in the same state and same Federal Reserve District. However, the U.S. branches and agencies of a foreign bank and the offices of an Edge or Agreement corporation can simulate a single master account nationwide by passing required reserve balances through a single correspondent.

If your organization holds the master account, you will need to complete the following forms in Step 7 -Complete Forms/Agreements.

  • Form 1 - Statement of Account
  • Form 2 - Statement of Service Charges
  • Form 3 - Electronic Notification of Selected Transactions
  • Form 4a - Cash Management Basic Services
  • Form 4b - Cash Management Plus, Computer Interface Intra-day File, and Search Results in a Spreadsheet Format

Top of Page