Regulatory Alerts2023-02-08 | 2023-02651Regulation D: Reserve Requirements of Depository Institutions
The Board of Governors of the Federal Reserve System issued final amendments to Regulation D to increase the interest rate on reserve balances (IORB) to 4.65 percent. This 0.25 percentage point adjustment, effective February 2, 2023, aligns with the Federal Open Market Committee's decision to raise the federal funds target range to 4.5 to 4.75 percent. The Board determined that notice and comment procedures were unnecessary to ensure prompt implementation of this monetary policy action.
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