Account Services
Federal Reserve Banks authorized to establish excess balance accounts
June 15, 2009
The Board of Governors of the Federal Reserve System is amending Regulation D, Reserve Requirements of Depository Institutions. Effective July 2, 2009, the change authorizes the establishment of limited-purpose accounts at Federal Reserve Banks, called excess balance accounts, for the maintenance of excess balances of interest-eligible institutions. The authorization of excess balance accounts is intended to address pressures on correspondent-respondent business relationships in the current interest rate environment. As market conditions evolve, the Board will evaluate the continuing need for excess balance accounts. For more information, please visit the Excess Balance Account Resource Center.
