(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 section
25B;
(B) a central bank, as defined
in section 25B, 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
(22 U.S.C. 288 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 section 15.
(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 section
11A(b) 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 the date of
enactment of this section), 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or withdrawn; and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 section 3 of the Federal Deposit Insurance
Act (12 U.S.C. 1813);
(ii) an insured
credit union, as defined in section 101 of the Federal Credit Union
Act (12 U.S.C. 1752); 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 date of enactment of this section,
the Board shall publish the database with the information required
under paragraph (1).
[12 USC 248c. As added by
act of Dec. 23, 2022 (136 Stat. 3419).]
