Reflecting direct customer feedback, filling out and submitting documents establishing your institution’s authority to do business with the Federal Reserve are about to become easier.
What is changing?
- The Account Holder Board Resolution will be named the Certificate of Resolutions Authorizing an Institution to Open and Maintain Accounts and Use Services.
- The Official Authorization List for Account Holders and Non-Account Holders will be merged into one form, the Official Authorization List: Account Holders and Non-Account Holders.
- Forms and instructions will be updated with enhanced language, standard formatting and improved customer usability, including PDF fillable forms.
- The following effective date language wil be added to forms: “The form is effective no earlier than the business day following the business day that the appropriate Federal Reserve Bank processes the request. If the stated Effective Date cannot be met, the company will be notified.”
What is not changing?
- Customers with existing Board Resolutions and Official Authorization lists on file do not need to resubmit forms.
- We continue to encourage customers to submit a draft document(s) for initial review before mailing the original(s).
The following Accounting forms and instructions will be updated by the end of November:
Forms
- Certificate of Resolutions Authorizing an Institution to Open and Maintain Accounts and Use Services
- Official Authorization List: Account Holders and Non-Account Holders
- Official Authorization List: Non-Depository Institution and/or Other Financial or Non-Financial Entities
- Foreign Banking Institution Account agreement
Instructions
- Certificate of Resolutions Authorizing an Institution to Open and Maintain Accounts and Use Services & Official Authorization List: Account Holders and Non-Account Holders Form Instructions
- Official Authorization List: Non-Depository Institution and/or Non-Financial Entities Instructions
If you have any questions about these changes, please contact National Accounting and Customer Support, Monday-Friday 7 a.m. – 7:30 p.m. ET at 1-800-309-6156 or by email at sys.nacs.fmg.di.support@mpls.frb.org.
