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Fed Announces Enhancements to FedLine® for the Web

Tuesday, April 1, 2003

The Federal Reserve System will introduce two new web-based informational tools during the second and third quarters of 2003. Eventually, these enhancements will replace DOS-based FedLine®.

ReserveCalc allows financial institutions to check reserve requirements, access position reports and drill-down on various report items, such as as-of adjustments data and close-of-business account balances.

An additional feature is the Balance Calculator, which institutions can use to determine the balances they should hold each day in order to achieve a zero net position. The calculator automatically updates every day after the Federal Reserve records an institution's close-of-business account balance and processes as-of adjustments.

The calculator also will function as an interactive decision-making tool. Institutions will be able to:

  • enter estimated future account balances to determine net positions under different scenarios or
  • calculate the effect of an anticipated as-of adjustment on required balances.

Daylight Overdraft Reporting and Pricing System (DORPS) is a new web-based service that will be rolled into the Account Management Information system. Five reports will be available:

  1. Two Week Daylight Overdraft Summary,
  2. Advice of Daylight Overdraft Charges,
  3. Statement of Daylight Overdraft Charges,
  4. revised advices and
  5. revised statements.

If you have any questions about these two new services, contact your account executive.