Regulatory Alerts2022-05-16 | 2022-10387Regulation D: Reserve Requirements of Depository Institutions
The Board of Governors of the Federal Reserve System issued a final rule amending Regulation D to raise the interest rate on reserve balances (IORB) to 0.90 percent. This 0.50 percentage point increase, effective May 5, 2022, aligns with the Federal Open Market Committee's decision to raise the federal funds rate target range to 3/4 to 1 percent. The Board waived standard notice and comment procedures to ensure the monetary policy adjustment could be implemented promptly in the public interest.
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