The purpose of the Portal is to provide a one-stop shop for financial institutions located in the Second Federal Reserve District (the Second District) to submit their request for access to a master account with the Federal Reserve Bank of New York (the New York Fed) and/or Federal Reserve financial services. The Portal enables users to complete the New York Fed’s Customer Questionnaire (CQ), upload required documents, and communicate with the New York Fed using the comment box provided on the “Communication with New York Fed” page of the Portal.
The Portal is only available to financial institutions located in the Second District that do not have existing access to a Reserve Bank account and/or Federal Reserve financial services and are interested in obtaining access to a master account with the New York Fed and/or Federal Reserve financial services. Existing customers that currently maintain access to an account and/or services should not use the Portal to request new services. The New York Fed oversees the Second District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands.
Yes. You may register for the Portal through the “Portal Registration” link on https://nyfedservices.newyorkfed.org. Only two users from each institution may register for and use the Portal. Users should be an employee of the institution that is requesting access to an account and/or services, have sufficient authority, and be generally familiar with the business of the institution. If you are no longer employed by your institution or your role has changed, your institution should notify the New York Fed’s Account Operations Owner team (AOO) promptly by sending an email to Customer.Support@ny.frb.org. If your institution desires to replace an existing user with a new user, it should provide the new user’s first and last name, job title, work email address, and work phone number to the AOO at Customer.Support@ny.frb.org.
- While we endeavor to make the Portal available 24 hours a day, seven days a week, it may be temporarily unavailable due to routine maintenance or repair.
- The Portal may be used on any web browser, but we recommend using Microsoft Edge® or Google Chrome.
- Multifactor authentication is needed for the Portal. To set up multifactor authentication, users must download the “Microsoft Authenticator” app from the App Store or Google Play on their phone. To use the Portal, users will need to complete the verification method each time they log in to the Portal.
- For ttechnical assistance with the Portal and/or user account lockout, please contact the AOO at Customer.Support@ny.frb.org
Once you submit your institution’s request for access to a master account and/or Federal Reserve financial services through the Portal, your institution’s responses to the CQ and document submissions will be “locked” in order for the New York Fed to conduct its review of your institution’s access request. If your institution needs to make changes to any submission, please contact us to unlock the relevant submission by posting a comment through the comment box provided on the “Communication with New York Fed” page of the Portal or by sending an email to Customer.Support@ny.frb.org.
You may check the status of your institution’s account and/or services access request on the “Final Decision” section of the Portal. In addition, the New York Fed will provide updates about your institution’s access request, if any, through the Portal. You may submit any questions or comments about your institution’s access request through the comment box provided on the “Communication with New York Fed” page of the Portal or by sending an email to Customer.Support@ny.frb.org.
If your institution desires to voluntarily withdraw its request, it can either notify the New York Fed through the comment tool provided on the “Communication with New York Fed” page of the Portal or by email at Customer.Support@ny.frb.org.
Yes. Under section 11C of the Federal Reserve Act (12 U.S.C. § 248c), the Board of Governors of the Federal Reserve System is required to create and maintain a public, online, and searchable database of (i) all entities (other than official accountholders as defined in section 11C) that have access to a Reserve Bank master account and/or financial services and (ii) all entities that have requested access to a Reserve Bank master account and/or financial services. This database is updated on a quarterly basis and lists the names of every entity that has submitted an access request after December 23, 2022, including those that have submitted any written documentation or formal indication that they intend to seek access to an account and/or services (or had a request pending as of December 23, 2022), even if the request is subsequently withdrawn. This database also discloses other pertinent information about entities and their access requests, including: the city and state where the entity’s charter is registered with the appropriate regulatory authority; the date when the entity submitted its access request; the Federal Reserve District from which the entity would access a Reserve Bank account and/or services; whether the entity is classified as a Tier 1, Tier 2, or Tier 3 under the Board’s Guidelines for Evaluating Account and Services Requests; the entity’s federal deposit insurance status; and the status of the access request (i.e., pending, rejected, approved, or voluntarily withdrawn). Please note that, to the extent an entity submits any written documentation or formal indication that it intends to seek access to a Reserve Bank account and/or services, the entity may meet the criteria for inclusion in the database. Therefore, it is imperative that your institution understands these implications before initiating an access request or submitting any documents or communication that may suggest or indicate that it intends to seek access to a Reserve Bank account and/or services.
There is no specific timeframe in which an institution’s request will be evaluated; the timeframe will depend on, among other things, the length of time it takes an institution to submit requested documents. Please follow the instructions provided in the Portal when submitting your institution’s access request; this will help facilitate a smooth and efficient review process. Among other things, Portal users should ensure that each document is uploaded to the corresponding “Document Type” field on the “Upload Documents” page of the Portal. The Portal allows users to complete certain steps in a non-sequential manner (e.g., uploading documents to the Portal prior to filling in the CQ); however, users should ensure that they complete the CQ and upload all requested documents before providing the requested certification and submitting their institution’s access request on the “Certification/Submit Request” page of the Portal.
