Where will interest payments on required reserve balances and on excess balances appear on my Final Position Report?
Interest payments on required reserve balances and on excess balances will be listed on each institution’s Final Position Report, which is generated 14 days after the maintenance period ends and is received through FedMail (via fax or e-mail). On the report, the interest information will be displayed in a boxed area on the bottom of the report. The box will indicate the type of balance for which interest is being paid (“RES REQ” for interest on average required reserve balances and/or “EXCESS BALS” for interest on average excess balances) and the interest rate, base amount, and interest payment amount for each type of balance.
Related Questions
- Why is the payment of interest on reserve balances, and on excess balances in particular, especially important under current conditions?
- I have payments other than non employee compensation to report. How do I make the amounts appear in the correct box on the 1099 form?
- Where will interest payments on required reserve balances and on excess balances appear on my Final Position Report?
