Reserves Central

Reserves Central provides resources and tools to help financial institutions access information on reserve balances and related calculations, such as the amount of interest earned on those balances. From Reserves Central, financial institutions can review their reserve balances and drill down into comprehensive reserves data. Financial institutions can also find comprehensive information on term deposits and excess balance accounts.

Effective November 4, 2021: The Federal Reserve implemented modifications to the Reserves Central application to streamline information for users given the elimination of reserve requirements, the changes to deposit reporting, and the switch to the new Interest on Reserve Balances (IORB) rate. The Reserves Central application no longer displays information related to reserve requirements and no longer displays information in three bands for account balances and interest. For more information on these changes, please visit the Reserves Administration Frequently Asked Questions page.

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 is 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 was 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 no longer displays FR 2900 deposit data via the Reservable Liabilities table. Links to Reservable Liabilities were disabled for maintenance periods after March 10, 2021. Additionally, Reserve Balance Requirement detail links were 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:

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.

Term Deposit Facility

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 Account

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.

Questions?

Please contact your Reserves Central District Contact with questions about reserves administration.

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