Regulation D: Reserve Requirements of Depository Institutions — 2024-09-25 [2024-21909]

Board of Governors of the Federal Reserve System. The Board of Governors of the Federal Reserve System (“Board”) has adopted final amendments to its Regulation D to revise the rate of interest paid on balances (“IORB”) maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORB is 4.9 percent, a 0.5 percentage point decrease from its prior level. The amendment is intended to enhance the role of IORB in maintaining the federal funds rate in the target range established by the Federal Open Market Committee (“FOMC” or “Committee”). Effective date: This rule (amendments to part 204 (Regulation D)) is effective September 25, 2024. Applicability date: The IORB rate change was applicable on September 19, 2024. M.