12 U.S.C. § 248c | Master account and services database

(a)

Definitions

In this section:

(1)

Access request

The term “access request” means a request to a Federal reserve bank for access to a reserve bank master account and services, including any written documentation or formal indication that an entity intends to seek access to a reserve bank master account and services.

(2)

Official accountholder

The term “official accountholder” means—

(A)

section 632 of this title a foreign state, as defined in ;

(B)

section 632 of this title a central bank, as defined in , other than a commercial bank;

(C)

22 U.S.C. 288 a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act ( et seq.); and

(D)

section 391 of this title any governmental entity for which the Secretary of the Treasury has directed a Federal reserve bank to receive deposits as fiscal agent of the United States under .

(3)

Reserve bank master account and services

The term “reserve bank master account and services” means an account in which a Federal reserve bank—

(A)

receives deposits for an entity other than an official accountholder; or

(B)

section 248a(b) of this title provides any service under to an entity other than an official accountholder.

(b)

Publishing master account and access information

(1)

Online database

The Board shall create and maintain a public, online, and searchable database that contains—

(A)

a list of every entity that currently has access to a reserve bank master account and services, including the date on which the access was granted to the extent the date is knowable;

(B)

December 23, 2022 a list of every entity that submits an access request for a reserve bank master account and services after enactment of this section (or that has submitted an access request that is pending on ), including whether, and the dates on which, a request—

(i)

was submitted; and

(ii)

was approved, rejected, pending, or withdrawn; and

(C)

for each list described in subparagraph (A) or (B), the type of entity that holds or submitted an access request for a reserve bank master account and services, including whether such entity is—

(i)

section 1813 of this title an insured depository institution, as defined in ;

(ii)

section 1752 of this title an insured credit union, as defined in ; or

(iii)

a depository institution that is not an insured depository institution or an insured credit union.

(2)

Updates

Not less frequently than once every quarter, the Board shall update the database to add any new information required under paragraph (1).

(3)

Deadline

December 23, 2022Not later than 180 days after , the Board shall publish the database with the information required under paragraph (1).

Dec. 23, 1913, ch. 6, § 11C Pub. L. 117–263, div. E, title LVII, § 5708Dec. 23, 2022136 Stat. 3419(, as added , , .)

Editorial Notes

References in Text

act Dec. 29, 1945, ch. 652 59 Stat. 669 section 288 of Title 22The International Organizations Immunities Act, referred to in subsec. (a)(2)(C), is title I of , , which is classified principally to subchapter XVIII (§ 288 et seq.) of chapter 7 of Title 22, Foreign Relations and Intercourse. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 117–263Dec. 23, 2022Enactment of this section, referred to in subsec. (b)(1)(B), means the enactment of this section by , which was approved .