Enter search term Search
About Us
We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

Learn more about our bank >
Banking Supervision
We promote the safety and soundness of individual financial institutions and monitor their impact on the financial system as a whole, as well as ensure financial institutions are protecting consumers.
Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

Learn more about Economic Research >
Region & Communities
We share research, data and resources and regularly engage regional leaders and policymakers to understand and address community‑specific economic issues.
- Our Region
Education
We work with teachers, students and the public to enhance understanding of economics, personal finance and the Federal Reserve.

Learn more about our resources and educational programs. >
- Resources & Programs
- Economic Education Outreach
- Events
- Our Team

Economic Quarterly

Second Quarter 2013

Federal Reserve Interdistrict Settlement

The Interdistrict Settlement Account (ISA) tracks financial flows across Federal Reserve Banks. This article provides an introduction to the ISA and traces its behavior, along with some other components of Reserve Bank balance sheets during the great recession and the financial crisis. We also discuss two important ways in which ISA differs from TARGET2, Europe's analogue to the combination of ISA and the Fedwire funds transfer system.

Contact Us

Lisa Davis (804) 697-8179