Regulation D: Reserve Requirements of Depository Institutions

Title:

Regulation D: Reserve Requirements of Depository Institutions

Subject: Reserve requirements; Reg D
Agency: Federal Reserve
Status: Interim final rule; request for comments
Summary:

The Board of Governors of the Federal Reserve System (“Board”) is amending its Regulation D (Reserve Requirements of Depository Institutions) to delete the numeric limits on certain kinds of transfers and withdrawals that may be made each month from “savings deposits.” The amendments are intended to allow depository institution customers more convenient access to their funds and to simplify account administration for depository institutions. There are no mandatory changes to deposit reporting associated with the amendments.

Applicability date: The changes to the numeric limits on certain kinds of transfers and withdrawals that may be made each month from accounts characterized as “savings deposits” were applicable on April 23, 2020.

FR Doc:
Date proposed: April 24, 2020
Comments due date: June 29, 2020
Effective date:

April 24, 2020

Rule compliance date:
Agency release:

Federal Reserve Board announces interim final rule to delete the six-per-month limit on convenient transfers from the “savings deposit” definition in Regulation D

Related Reg Report item(s):

Fed drops Reg D ‘six-per-month’ limit on savings account transfers, withdrawals to make cash more accessible

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