Regulatory Alerts2022-06-29 | 2022-13835Regulation D: Reserve Requirements of Depository Institutions
The Board of Governors of the Federal Reserve System issued final amendments to Regulation D to raise the interest rate on reserve balances (IORB) to 1.65 percent. This 0.75 percentage point increase, effective June 16, 2022, aligns with the Federal Open Market Committee's decision to raise the federal funds rate target range to support monetary policy objectives. The Board determined that notice and comment procedures were unnecessary to ensure the prompt implementation of this rate change in the public interest.
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