12/20/2016

Federal Reserve

Fed Proposes Guidelines on Reserve Bank Joint Accounts

The Federal Reserve Board requested comment on proposed guidelines to evaluate requests for joint accounts at Federal Reserve Banks. The board said it expects depository institutions to seek joint accounts to facilitate settlement amid ongoing improvements to the U.S. payment system.

The proposed guidelines would broadly outline considerations for evaluating joint account requests, with requests to be evaluated on a case-by-case basis. Comments are due within 60 days.