Reserves Administration Business Continuity Guide
Overview — Disruption to Reserves Administration
Depository institutions hold reserve balances in their accounts at Federal Reserve Banks, and the Federal Reserve can influence the economy through the market for those balances. The Federal Reserve provides access to information on reserve balances and the amount of interest earned on those balances via the Reserves Central — Reserve Account Administration application, which is available via the FedLine Web® Solution.
Preparing for a Federal Reserve Business Disruption
It is important to identify and prepare key personnel (including alternates) who can access reserves administration information during an outage. Key personnel should be equipped with the necessary procedures and technology (e.g., computer, token and software) to allow them to work from an alternate location.
An institution has the option to delegate a specific individual as a contingency contact person. This can be done by providing the person's name, telephone number and email address,to the appropriate district contact provided in the Federal Reserve Reporting and Reserves Business Continuity Contacts section.
During a Reserves Administration Business Disruption — What to Expect
Federal Reserve Disruption:
A Federal Reserve disruption may cause the FedLine Web Solution to be inaccessible or the information obtained via these applications may be inaccurate. However, the Federal Reserve Bank has developed an extensive back-up and recovery process that should allow, under most circumstances, for operations to resume within a relatively short period of time (within 24 hours or less).
If your institution is experiencing an emergency situation and cannot access reserves administration applications, the Federal Reserve can offer support via the following options:
- Contacting your local Federal Reserve Reporting and Reserves Business Continuity Contacts.
- Contacting the Customer Contact Center (CCC) for support on reporting electronic access to the Federal Reserve online application.
During a Reserves Administration Business Disruption — What You Should Do
Federal Reserve Disruption
In the event of a Federal Reserve outage, each Federal Reserve Bank will review each situation on a case-by-case basis.
If the FedLine Web Solution is unavailable, depository institutions may use the contact numbers provided in the Federal Reserve Reporting and Reserves Business Continuity Contacts section for assistance with reserves administration. Unless otherwise noted, these continuity numbers remain valid even if Federal Reserve staff have relocated to a contingency site or are working remotely.
In the event of an outage at a depository institution, individuals at the depository institution may contact their End User Authorization Contacts (EUACs) to enact business continuity activities concerning FedLine electronic access. EUACs are responsible for identification, authentication and notification processes between depository institutions and Federal Reserve Banks.
To reestablish access to FedLine, an EUAC should contact the CCC at (888) 333- 7010, option 1. Once connected, the CCC staff will assess each institution's unique need and provide an appropriate solution to reestablish access. If you are unfamiliar with your depository institution's EUACs, please contact the CCC for assistance in identifying the appropriate contacts.