# Reserve Account
> **Rural Housing Service** · Final rule. · Published 2015-06-17 · Effective 2015-08-17 · 80 FR 34531
## Document
- **Document number:** 2015-14783
- **Category:** rural-development
- **Sub-agency:** Rural Housing Service
- **Federal Register citation:** 80 FR 34531
- **CFR reference:** 7 CFR 3560
- **Publication date:** 2015-06-17
- **Effective date:** 2015-08-17
## Abstract

The Rural Housing Service (RHS or "Agency") is amending its regulation to change the requirements of the reserve account for direct Multifamily Housing (MFH) loans. The intended effect of this action is to address the reserve account requirement of the Agency to countersign with the borrower when a Section 538 guaranteed loan is involved, and to also clarify that reserve account funds cannot be used to pay for fees associated with the Section 538 guaranteed loan program.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2015/06/17/2015-14783/reserve-account)
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