Excess Balance Account

Federal Reserve Bank Excess Balance Accounts (EBAs) are limited-purpose accounts for maintaining excess balances in an interest-earning account.  The account enables you to maintain your credit union's relationship with EasCorp, which manages the account on your behalf.  Overnight funds that exceed daily settlement requirements are transferred to the Federal Reserve Bank by EasCorp at the end of each business day and are automatically "swept" back before the start of business the following day, where they can be used for daily and other settlement and investment activities.  EBAs are a liability of the Federal Reserve Bank and provide a strong counterparty, diversification, and interest on balances.  The Excess Balance Account may not be used to offset Regulation D Reserve Requirements.