Regulatory Alerts2022-10-07 | 2022-21830Regulation A: Extensions of Credit by Federal Reserve Banks
The Board of Governors of the Federal Reserve System issued final amendments to Regulations A and D to implement a 0.75 percentage point increase in key short-term interest rates effective September 22, 2022. The rulemaking establishes the primary credit rate at 3.25 percent, the secondary credit rate at 3.75 percent, and the interest rate on reserve balances at 3.15 percent. These adjustments align with the Federal Open Market Committee’s concurrent decision to raise the federal funds rate target range to 3 to 3.25 percent and bypass standard notice-and-comment procedures to ensure prompt monetary policy implementation.
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