Effective July 29, 2021: As announced in the Federal Register on June 4, 2021 (Off-site), the Board implemented the new Interest on Reserve Balances (IORB) rate. The IORB rate will be paid by the Federal Reserve Bank on balances maintained by or on behalf of an eligible institution in an account at a Federal Reserve Bank. Accordingly, the Reserves Central application reflects the implementation of the new IORB rate. This includes displaying the value for the IORB rate in the interest rate field within the application. In addition, the Reserve Central application calculates the amount of interest using the IORB rate and the new calculation method and displays the resulting amount of interest in the interest field. For more information on this change, visit the Reserves Administration Frequently Asked Questions page.
Effective March 11, 2021: The Reserves Central application has been modified to reflect the elimination of reserve requirements and streamline information for users. With the changes to the FR 2900 reporting series announced in the Federal Register on December 22, 2020 (Off-site), the Reserves Central application will no longer display FR 2900 deposit data via the Reservable Liabilities table. Links to Reservable liabilities will be disabled for maintenance periods after March 10, 2021. Additionally, Reserve Balance Requirement detail links will be disabled going forward as all reserve requirement ratios are set to zero percent.
On March 15, 2020, as announced (Off-site), the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions. For more information on this change, visit the Reserves Administration Frequently Asked Questions page.
Reserves Central—Reserve Account Administration
Reserves Central—Reserve Account Administration is the application through which depository institutions can access information on their reserve balances and the amount of interest earned on those balances.
For more information, please consult the following resources:
- If you have questions about Reserves administration or the application, consult the Reserves Administration Frequently Asked Questions.
- If you would like to setup access to the application, visit the Reserves Central—Reserve Account Administration Setup page for more information.
Click the button below to access the Reserves Central—Reserve Account Administration application.
Schedule for Maintenance Periods and Interest Payments
Coming Soon: The Schedule for Maintenance Periods and Interest Payments will provide the dates for each maintenance period and the date of the associated interest payment.
The Term Deposit Facility (TDF) is a program under which the Federal Reserve offers term deposits to institutions that are eligible to receive interest on the balances they maintain at the Reserve Banks. An eligible institution may place funds at its Reserve Bank in a term deposit for an agreed upon number of days and reduce the amount of reserves it holds.
Click the button below to access the Term Deposit Facility application.
Excess balance accounts are limited-purpose accounts for maintaining the excess balances of institutions that are eligible to earn interest on balances at Federal Reserve Banks. The participating eligible institutions ('participants') authorize another institution ('agent') to manage the excess balance account on their behalf.
Historical Reference Material
Archived Reserve Maintenance Manual (Off-site): Effective March 26, 2020, the Board reduced reserve requirement ratios to zero percent. This action effectively eliminated reserve requirements for all depository institutions. This archived manual provides detail on how reserve requirements were administered prior to March 26, 2020.
Please contact your Reserves Central District Contact with questions about reserves administration.