Supervising Banks: Account Coordination
A financial institution may apply to open a Master Account and/or obtain Federal Reserve Services with the Federal Reserve Bank in the Federal Reserve District in which the financial institution is located, which is also known as its Administrative Reserve Bank (ARB).
Account Maintenance Resources
- My Fed Directory provides a customized list of Federal Reserve Financial Services support contacts, including your account executive.
A financial institution going through a merger or operations consolidation can work with its merger coordinator to complete all pertinent merger documentation. Following are some questions that you may be asked by the merger coordinator:
- What is the legal and operational date(s) when the merger will be effective?
- Who are the institutions involved in the merger, including the names, addresses, cities, states, zip codes and routing transit numbers?
- Will you need to open an account with the Federal Reserve? Will subaccounts be needed or used?
- Who are the primary contacts (surviving and non-surviving institutions) with whom we should communicate, including their names, institutions, routing transit numbers, addresses, phone/fax numbers and email addresses?
- What entities may need to be aware of your change (e.g., data processors, correspondents, respondents, etc.) for both the surviving and non-surviving institutions?