The 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. More... The final amendments specify that IORR is 2.35 percent and IOER is 2.35 percent, a 0.05 percentage point decrease from their prior levels. The amendments are intended to enhance the role of such rates of interest in maintaining the federal funds rate into the target range established by the Federal Open Market Committee. The final rule is effective May 10, 2019 (Regulation D, Docket R-1663), the same day it was published in the Federal Register. The IORR and IOER rate changes were applicable on May 2, 2019.

Pursuant to the provisions of the Privacy Act of 1974, notice was given that the Board proposes to modify existing system of records BGFRS-1 “FRB—Recruiting and Placement Records” to add the onboarding materials that prospective employees provide the Board before beginning employment at the Board and to clarify that the records also include ethics-related information such as potential conflicts of interest. More... The modified system of records, BGFRS-1, which will now be called “FRB—Recruiting, Placement, and Onboarding Records,” is a system of records that is used to identify, track, screen, and select individuals for positions at the Board and for onboarding prospective employees before they begin employment with the Board. The modified system of records will become effective after the comment period closes on June 3, 2019, unless comments dictate otherwise (Rules Regarding Access to Personal Information under the Privacy Act of 1974, Systems of Records of the Federal Reserve System). The modified system of records was published in the Federal Register on May 2, 2019.

The Board issued new regulations to provide for the collection of debts owing to the United States arising out of the Board’s operations or its enforcement and other regulatory activities. More... The final rule is effective April 16, 2019 (Procedures for Debt Collection, Docket R-1657), the same day it was published in the Federal Register.

The Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are inviting public comment on a proposal to implement section 402 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. More... Section 402 directs these agencies to amend the supplementary leverage ratio of the regulatory capital rule to exclude certain funds of banking organizations deposited with central banks if the banking organization is predominantly engaged in custody, safekeeping, and asset servicing activities. Comments on this notice of proposed rulemaking must be received by July 1, 2019 (Docket R-1659).

The Board is seeking comment on a proposal to amend Regulation EE to include certain new entities in the definition of “financial institution” contained in section 402 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) so that they will be covered by FDICIA’s netting provisions. More... The proposal would also clarify how the existing activities-based test in Regulation EE applies following a consolidation of legal entities. Comments on this notice of proposed rulemaking must be received by July 1, 2019 (Docket R-1661).