Direct Source News

Unfiltered Direct Source News From Governments & Companies


Please enable JavaScript if it is disabled in your browser or access the information through the links provided below.

June 02, 2021

Federal Reserve Board issues final rule amending Regulation D with regard to interest on reserve balances

For release at 10:00 a.m. EDT

The Federal Reserve Board announced on Tuesday the approval of a final rule amending Regulation D to eliminate references to an interest on required reserves (IORR) rate and to an interest on excess reserves (IOER) rate and replace them with a single interest on reserve balances (IORB) rate. The final rule also simplifies the formula used to calculate the amount of interest to be paid on such balances and makes other minor conforming amendments. The final rule adopts the rule proposed by the Board on January 8, 2021 without change, and takes effect on Thursday, July 29, 2021.

For media inquiries, call 202-452-2955.

Last Update:
June 02, 2021

Source link

Author: Editor
Editor represents multiple online news sites, including STL.News, RSSNews.Press and more. We believe that our "direct source news" concept helps provide accurate information to the public without bias. We want to help improve technology so the news is presented as it was intended to be.