Last year, a Fed360® article featured common questions from customers who call into our Support Center. This was such a popular article that we’re highlighting additional common questions and links to answers online to help you more quickly find the information and resources you need.
Q: What hardware and software systems are required for my financial institution to access Federal Reserve Financial Services (FRFS)?
A: All FRFS payment services are accessed through a FedLine® Solution. The FedLine Advantage® Solution and FedLine Web® Solution are attended, whereas the FedLine Direct® Solution and FedLine Command® Solution offer unattended support automation. The hardware and software requirements vary by solution – visit the Service and Access Setup page to learn more. The Support Center or your relationship manager also can help guide you through the setup process.
Q: How can my financial institution modify its FedLine Subscribers’ access levels, especially in the event of a merger or other organizational changes?
A: A merger or other organizational changes may require changes to the individuals within your financial institution that access various FRFS payment services via FedLine. The Subscriber Access Level Descriptions page is a great starting point for you to see what roles your institution may need to access various services. Subscriber roles can be added or modified by an End User Authorization Contact (EUAC) from your institution in the EUAC Center within FedLine Home.
Q: What FedACH® agreements does my financial institution need to complete?
A: The FedACH Services Participation Agreement is a series of fillable PDF forms that your financial institution must complete and submit before you can begin using any FedACH Services. Whether you’re new to FedACH Services or you want to update your existing agreement(s), the FedACH Participation Agreement Instructions (PDF) will guide you through which parts you need to complete for the various ACH services we offer. Every agreement must be signed by an Official Authorization List (OAL) contact from your institution before submitting to the Support Center.
Q: How can my financial institution become more efficient in managing its cash supply?
A: FRFS offers FedCash® Services to help ensure your institution has sufficient supplies of currency and coin. The broadly available FedCash E-Manifest Service enables financial institutions and armored carriers to electronically manage their cash supply chains. This service can give your institution greater visibility into currency deposits and orders between your financial institution and armored carriers that work directly with the Federal Reserve.
Q: What are Reporting Central forms?
A: The Federal Reserve uses Reporting Central forms to periodically collect data from bank holding companies, depository institutions, other financial and non-financial entities, and consumers. This information helps the Federal Reserve carry out its responsibilities of conducting monetary policy, supervising and regulating the banking industry and protecting consumer rights. Information about Reporting Central reports and forms, as well as application login can be found on the Reporting Central page.
Do you have more questions for the Federal Reserve? Use the Contact page to find your financial institution’s customized list of go-to support contacts, including your relationship manager and specific payments service support. Your question could end up in a future Fed360 article.
