trending Market Intelligence /marketintelligence/en/news-insights/trending/26rwCet9abP97isFs4qj2g2 content esgSubNav
In This List

Proposed guidelines on joint accounts evals at FRBs open to comment

Blog

Banking Essentials Newsletter May 29th Edition

Blog

Managed Services Insights: The client lifecycle management solution

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Banking Essentials Newsletter: May 15th Edition


Proposed guidelines on joint accounts evals at FRBs open to comment

The public comment period is now open for proposed guidelines used to evaluate requests for joint accounts at Federal Reserve Banks.

The proposal on joint accounts is intended to facilitate settlement between depository institutions participating in U.S. payment systems. The proposal is part of efforts to improve the U.S. payment system.

The Fed Board proposes to establish guidelines to broadly outline considerations for evaluating joint account requests, which will be evaluated on a case-by-case basis.

Currently, eligible depositary institutions are allowed one master account by Federal Reserve Banks, but under certain limited circumstances, agent-managed joint accounts are allowed.