WASHINGTON, Nov. 14 -- Federal Reserve System has issued a rule called: Regulation D: Reserve Requirements of Depository Institutions.
The rule was published in the Federal Register on Nov. 14 by Benjamin W. McDonough, Deputy 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 3.90 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 the ...