In an advance notice of proposed rulemaking, the Federal Reserve Board ("FRB") solicited feedback on whether to amend Regulation D ("Reserve Requirements of Depository Institutions") to lower the rate of interest paid on excessive balances maintained at FRB banks by eligible institutions. The eligible institutions hold a significant proportion of the assets in the form of balances at FRB banks.
Comments must be submitted to the FRB no later than 60 days following publication of the proposal in the Federal Register.
The Federal Reserve Board published a final rule in the Federal Register that amends Regulation D ("Reserve Requirements of Depository Institutions"). The final rule will become effective on November 29, 2018.
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