Federal Reserve System June 2018 – Federal Register Recent Federal Regulation Documents

The Board of Governors of the Federal Reserve System (``Board'') is amending Regulation D (Reserve Requirements of Depository Institutions) to revise the rate of interest paid on balances maintained to satisfy reserve balance requirements (``IORR'') and the rate of interest paid on excess balances (``IOER'') maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORR is 1.95 percent and IOER is 1.95 percent, a 0.20 percentage point increase from their prior levels. The amendments are intended to enhance the role of such rates of interest in moving the Federal funds rate into the target range established by the Federal Open Market Committee (``FOMC'' or ``Committee'').

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates (FR Y-8; OMB No. 7100-0126). The revisions are effective as of the June 30, 2018 report date.

The Federal Financial Institutions Examination Council has rescinded its Revised Policy Statement on ``Interagency Coordination of Formal Corrective Action by the Federal Bank Regulatory Agencies'' dated February 20, 1997. To assure onging coordination, the Board, the FDIC, and the OCC (collectively, ``the Federal Banking Agencies'' or ``FBAs'') are issuing this policy statement concerning Federal Banking Agency coordination of formal corrective action.

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Survey of Consumer Finances (FR 3059; OMB No.7100-0287).