Having accurate, current account information is imperative to engaging in business with the Federal Reserve Banks. Your institution needs to have a current Board Resolution (BR) and Official Authorization List (OAL) on file to identify the individuals who have the authority to act as it relates to the operation of your account.
These documents allow these authorized individuals to issue instructions about your institution's relationship with a Federal Reserve Bank and its use of Federal Reserve Financial Services. Agreements, forms and other requests need to be signed by an individual listed on your institution's OAL.
Action Item:
It is your institution's responsibility to regularly review its BR and OAL and file new documents when changes are needed. For more information about updating forms and agreements, please visit the Accounting Services Forms page or contact your respective district’s BR and OAL contact.
