Regulation D: Reserve Requirements of Depository Institutions

Document 2025-19304 is a Final Rule published by the Federal Reserve System in the Federal Register on October 2, 2025, with an effective date of October 2, 2025. 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 4.15 percent, a 0.25 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"). View the original at https://www.federalregister.gov/documents/2025/10/02/2025-19304/regulation-d-reserve-requirements-of-depository-institutions.

No. Document 2025-19304 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.