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Accounting Services resources you need to know

The Federal Reserve Banks provide Accounting Services to financial institutions in their respective districts, helping settle transactions efficiently between financial institution accounts seven days a week, 365 days a year. To make working with the Federal Reserve as efficient and comprehensive as possible, Accounting Services resources and guides are available to new and veteran users.

New: On-demand training videos

Within the Training section of FedLine®, Subscribers that use the Account Management Information (AMI) application now can access bite-sized video content designed to deliver a flexible, convenient learning experience. Through a series of self-paced training videos, Subscribers will be able to quickly learn key features and useful functionality of the AMI application.

The first module, “Billing Activity & Reports,” is currently available, providing insight into the timing of monthly service charges, along with tips on how AMI Subscribers can search for and view service charge information and download reports and statements. More training video modules will be released later this year.

To view the new video and access a variety of educational resources, please see the Accounting page within FedLine Home Training.

Account Management Guide

At more than 100 pages in length, the Account Management Guide is a comprehensive reference guide for financial institutions that manage reserve accounts. The document outlines information related to the ongoing administration of reserve accounts, including:

  • Federal Reserve Bank account structure
  • Information tools
  • Overdrafts
  • Billing
  • Account management during a merger
  • Direct compensation
  • Terminology
  • Transaction code posting requirements
  • Links to helpful information, including:
    • Federal Reserve contact lists
    • Concepts of reserve calculation and maintenance

The guide is updated on an ongoing basis.

Accounting Services Forms page

The Accounting Services Forms page provides access to forms and agreements that your institution will need to set up or use Federal Reserve Accounting Services. Items found here include Operating Circular 1 (OC 1) forms to establish a master account with the Federal Reserve, as well as the Certificate of Resolutions Authorizing an Institution to Open and Maintain Accounts (BR) and Official Authorization List (OAL). Your institution needs to have a current BR and OAL on file to identify the individuals who have the authority to act as it relates to the operation of your account.

Frequently Asked Questions (FAQ) pages has a robust list of FAQs for all services, including Accounting Services. Visit the Accounting Services FAQ page to find a full list of options – including questions about Accounting Services Information, AMI and Seven-Day Accounting, Excess Balance Account and more.

Need more support?

If you have any questions about Accounting Services or these resources, please reach out to National Accounting and Customer Support or your relationship manager.