Federal Reserve Interdistrict Settlement
FRB Economic Quarterly, Vol. 99, No. 2, Second Quarter 2013, pp. 117-141.
25 Pages Posted: 29 May 2014
Date Written: 2013
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.
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