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Reserves Administration Enhancements Resource Center
The Federal Reserve is undertaking an initiative to simplify reserves administration and modernize the application that supports the implementation of monetary policy, as outlined below.
Rules Simplification
The simplification of reserves administration is designed to reduce burden on depository institutions and the Federal Reserve while maintaining the role of reserve requirements in the implementation of monetary policy. Four simplifications will be implemented in a phased transition.
Click the button below to access the Reserves Central—Reserve Account Administration application.
Please note: The Reserves Central—Reserve Account Administration application will be available beginning June 18, 2013. The first maintenance period begins on June 27, 2013. When accessing the application between June 18, 2013, and June 26, 2013, the screen defaults to a future maintenance period and the prompt "No data found" will appear. To view the first maintenance period, click on the dropdown box, then select “6/27/2013 - 7/10/2013” and the correct information will be displayed.
Phase 1—Effective July 12, 2012
The two simplifications to be implemented in this initial phase are:
- As-of adjustments related to deposit report revisions will be discontinued, and all other as-of adjustments were replaced with direct compensation
- The contractual clearing balance program was eliminated
Phase 2—Effective June 27, 2013
The two simplifications to be implemented in this subsequent phase are:
- A common two-week maintenance period for all depository institutions will be created
- A penalty-free band around reserve balance requirements will replace carryover and routine waivers
Reserves Central—Reserve Account Administration Introduction
Concurrent with the phase 2 simplification efforts, the Federal Reserve will implement Reserves Central—Reserve Account Administration, a new application that will replace ReserveCalc via the FedLine Web® access solution and reserve reports via FedMail®. Organizations that rely on ReserveCalc and FedMail today should consult the appropriate sections below to prepare for the implementation of Reserves Central—Reserve Account Administration.
Changes for Organizations That Currently Receive Reserve Reports via FedMail:
After June 27, 2013, reserve reports will no longer be available via FedMail. Organizations will need to take action in order to maintain access to the information currently offered via FedMail. Organizations that do not currently have access to the FedLine Web access solution will need to set up access for Subscribers to Reserves Central—Reserve Account Administration in order to maintain access to information on reserve requirements.
Follow this link to learn more about Reserves Central—Reserve Account Administration Setup.
Changes for Organizations That Currently Use ReserveCalc:
All current ReserveCalc Subscribers will automatically be given access to the new Reserves Central—Reserve Account Administration application. Communications will be sent to organizations that currently use ReserveCalc pertaining to an access review of current Subscribers. We will continue to provide information regarding the transition on this page. We encourage you to bookmark this site for future reference.
Follow this link to learn more about the ReserveCalc Subscriber Access Review.
Training Resources
The following materials have been prepared to help you access and navigate the Reserves Central—Reserve Account Administration application:
- View the new Changes in Reserve Administration webcast
- Review the Reserve Account Administration Step-by-Step Guide Accesible Version for detailed instructions on how to use the new application
Please note: The Reserves Central—Reserve Account Administration application will be available beginning June 18, 2013. The first maintenance period begins on June 27, 2013. When accessing the application between June 18, 2013, and June 26, 2013, the screen defaults to a future maintenance period and the prompt "No data found" will appear. To view the first maintenance period, click on the dropdown box, then select “6/27/2013 - 7/10/2013" and the correct information will be displayed.
More Information
For more information, review the following links. Additional information will also be made available on this resource center as the effective dates for the simplifications and the implementation date for the automation draw near.
- Reserves Central-Reserve Account Administration Application Frequently Asked Questions
- Board of Governors Press Release
- July 24, 2012 Announcement Letters
- Federal Register Notices
Questions
Please contact your Reserves Central District Contact with questions about reserves administration enhancements.
