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US CodeTitle 12Chapter 3§ 248c

§ 248c

Master account and services database

12 U.S.C. § 248c.
3 min read
Subchapter: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
((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)) a foreign state, as defined in ; ((B)) a central bank, as defined in , other than a commercial bank; ((C)) 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)) 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)) 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)) 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whether, and the dates on which, a request— ((i)) was submitted; and ((ii)) was approved, rejected, pending, or withdrawn; and ((C)) for each list described in subparagraph (A) or (B), the type of entity that holds or submitted an access request for a reserve bank master account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)) an insured depository institution, as defined in ; ((ii)) 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** Not later than 180 days after , the Board shall publish the database with the information required under paragraph (1).December 23, 20222022-12-23

Release: pl-119-59 (2025-12-18)

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