What’s New

The Board has adopted final amendments to its Regulation A to reflect the Board’s approval of a decrease in the rate for primary credit at each Federal Reserve Bank. More... The secondary credit rate at each Reserve Bank automatically decreased by formula as a result of the Board’s primary credit rate action. The final rule is effective November 20, 2024 (Regulation A, Docket R–1846), the same day it was published in the Federal Register. The rate changes for primary and secondary credit were applicable on November 8, 2024.

The Board is amending Regulation D (Reserve Requirements of Depository Institutions) to revise the rate of interest paid on balances (IORB) maintained at Federal Reserve Banks by or on behalf of eligible institutions. More... The final amendments specify that IORB is 4.65 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. The final rule is effective November 20, 2024 (Regulation D, Docket R–1847), the same day it was published in the Federal Register. The IORB rate change was applicable on November 8, 2024.

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule to clarify an exemption under the beneficial ownership information reporting rule that FinCEN published on September 30, 2022. More... This rule modifies the language exempting certain public utilities from the definition of “reporting company” in the beneficial ownership information reporting rule to more clearly implement the language of the exemption found in the Corporate Transparency Act. The final rule is effective October 18, 2024 (Department of the Treasury, Financial Crimes Enforcement Network), the same day it was published in the Federal Register.