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Fed seeks public comment on proposal to publish a periodic list of depository institutions that have access to Federal Reserve accounts

Written on Nov 23, 2022

The Federal Reserve Board is seeking public comments on a proposal to publish a periodic list of depository institutions that have access to Federal Reserve accounts—often referred to as "master accounts"—and payment services. The proposal would result in a transparent and accessible source of this information for the public. 

In August, the Board adopted final guidelines that establish a transparent, risk-based, and consistent set of factors for Reserve Banks to use in reviewing requests to access these accounts and payment services. 

The proposal would build on the transparency of the guidelines by requiring Reserve Banks to periodically disclose which depository institutions have access to their accounts and payment services. 

Comments will be accepted until Jan. 17, 2023.