Home / Agencies / Federal Reserve / 2023-06446
Final Rule

Regulation D: Reserve Requirements of Depository Institutions

Agency
Federal Reserve
Document Number
2023-06446
Published
March 29, 2023
Effective Date
March 29, 2023

Abstract

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 0.25 percentage point increase 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").

Federal Register Source

This document is published by the Office of the Federal Register, National Archives and Records Administration. Access the full regulatory text, preamble, and docket comments below.

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Frequently Asked Questions

What is the 2023-06446 Federal Register document?
Document 2023-06446 is a Final Rule published by the Federal Reserve System in the Federal Register on March 29, 2023, with an effective date of March 29, 2023. 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 0.25 percentage point increase 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"). View the original at https://www.federalregister.gov/documents/2023/03/29/2023-06446/regulation-d-reserve-requirements-of-depository-institutions.
Is document 2023-06446 an economically significant rule?
No. Document 2023-06446 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.

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