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Federal Reserve Board issues guidelines to evaluate requests for joint accounts at Federal Reserve Banks
On Wednesday, August 9, 2017, the Federal Reserve Board released final guidelines for evaluating requests for joint accounts at Federal Reserve Banks. The guidelines will become effective upon publication in the Federal Register. Joint accounts are intended to facilitate settlement between depository institutions participating in private-sector payment systems. The final guidelines broadly outline considerations for evaluating joint account requests. Requests will be evaluated on a case-by-case basis, and more specific considerations and information necessary to evaluate a particular request will likely be required based on the complexity of the arrangement and other factors.
Parties may contact the Reserve Bank in their respective districts for more information about requesting a joint account.