WASHINGTON, Oct. 2 -- Federal Reserve System has issued a rule called: Regulation D: Reserve Requirements of Depository Institutions.
The rule was published in the Federal Register on Oct. 2 by Michele Taylor Fennell, Associate Secretary of the Board.
Summary: The Board of Governors of the Federal Reserve System ("Board") has adopted final amendments to its Regulation D to revise the rate of interest paid on balances ("IORB") maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORB is 4.15 percent, a 0.25 percentage point decrease from its prior level. The amendment is intended to enhance the role of IORB in maintaining the federal funds rate in the target range established by th...