Having accurate, current account information is required to engage in business with the Federal Reserve Banks. Your institution needs to have current Board Resolutions (BR) and Official Authorization List (OAL) forms on file to identify the individuals who have the authority to act in relation to the operation of their account.
These forms allow 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.
Based on customer feedback, the Federal Reserve Banks have implemented the use of electronic signatures via Docusign® rather than paper-based, wet signature forms for the following Accounting Services forms for domestic customers, all available on the Accounting Services Forms page:
- The Certificate of Resolutions Authorizing an Institution to Open and Maintain Accounts and Use Services (Board Resolutions form)
- Account & Non-Account Holder Official Authorization List
- Non-Depository Institution and/or other Financial or Non-Financial Entities Official Authorization List
Additionally, the Federal Reserve Banks have introduced identity verification technology via ID.me®, which takes the place of traditional notarization for the Authorizing Officer and Certifying Official (if applicable) on the OAL. This change improves overall security and reduces form processing times by eliminating the need to send or receive paper documents among signers who are geographically distant. Together, the Docusign and ID.me tools are referred to as the “electronic process.”
Note: U.S. branches or agencies of foreign banks are not eligible to submit the forms listed above via the Docusign process. Please contact National Accounting and Customer Support at (800) 309-6156 or sys.fso.nacs@mpls.frb.org for assistance.
“Docusign” is a registered trademark of Docusign, Inc. “ID.me” is a registered trademark of ID.me, LLC.
