Transmittal Archive

The Board amended Regulation D to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2025. More... The annual indexation of these amounts is required notwithstanding the Board’s action in March 2020 of setting all reserve requirement ratios to zero. The Board is amending Regulation D to set the reserve requirement exemption amount at $37.8 million (increased from $36.1 million in 2024) and the amount of the low reserve tranche at $645.8 million (increased from $644.0 million in 2024). The adjustments to both of these amounts are derived using statutory formulas specified in the Federal Reserve Act. The annual indexation of the reserve requirement exemption amount and low reserve tranche is required by statute but will not affect depository institutions’ reserve requirements, which will remain zero. The final rule is effective December 20, 2024 (Regulation D, Docket R–1848) and was published in the Federal Register on November 20, 2024. The new exemption amount and low reserve tranche will apply beginning January 1, 2025.

The Board issued a final rule that applies an inflation adjustment to the threshold for total consolidated assets in Regulation I. Federal Reserve Bank stockholders that have total consolidated assets above the threshold receive a different dividend rate on their Reserve Bank stock than stockholders with total consolidated assets at or below the threshold. More... The Federal Reserve Act requires that the Board annually adjust the total consolidated asset threshold to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis. Based on the change in the Gross Domestic Product Price Index as of September 26, 2024, the total consolidated asset threshold will be $12,841,000,000 through December 31, 2025. The final rule is effective December 12, 2024 (Regulation I, Docket R–1844) and was published in the Federal Register on November 12, 2024. The adjusted threshold for total consolidated assets will apply beginning January 1, 2025.

The Board and the Consumer Financial Protection Bureau (CFPB) finalized amendments to the official interpretations and commentary for the agencies’ regulations that implement the Consumer Leasing Act (CLA). More... The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the CLA by requiring that the dollar threshold for exempt consumer leases be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI–W). Based on the annual percentage increase in the CPI–W as of June 1, 2024, the exemption threshold will increase from $69,500 to $71,900. The final rule is effective January 1, 2025 (Regulation M and Consumer Financial Protection Bureau, Regulation M, Docket R–1842) and was published in the Federal Register on October 15, 2024.

The Board, the CFPB, and the Office of the Comptroller of the Currency finalized amendments to the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). More... Section 129H of TILA establishes special appraisal requirements for “higher-risk mortgages,” termed “higher-priced mortgage loans” or HPMLs in the agencies’ regulations. A December 2013 rulemaking exempted transactions of $25,000 or less and required that this loan amount be adjusted annually based on any annual percentage increase in the CPI–W. Based on the CPI–W in effect as of June 1, 2024, the exemption threshold will increase from $32,400 to $33,500. The final rule is effective January 1, 2025 (Regulation Z and Consumer Financial Protection Bureau, Regulation Z, Docket R–1841) and was published in the Federal Register on October 15, 2024.

The Board and the CFPB are amending the official interpretations and commentary for the agencies’ regulations that implement TILA. More... The Dodd-Frank Act amended TILA by requiring that the dollar threshold for exempt consumer credit transactions be adjusted annually by the annual percentage increase in the CPI–W. Based on the annual percentage increase in the CPI–W as of June 1, 2024, the exemption threshold will increase from $69,500 to $71,900. The final rule is effective January 1, 2025 (Regulation Z and Consumer Financial Protection Bureau, Regulation Z, Docket R–1843) and was published in the Federal Register on October 15, 2024.

The CFPB is amending the official interpretations for Regulation Z, which implements TILA. More... The CFPB calculates the dollar amounts for several provisions in Regulation Z annually; this final rule revises the amounts for provisions implementing TILA and its amendments, including under the Home Ownership and Equity Protection Act of 1994 (HOEPA) and the Dodd-Frank Act. The CFPB adjusts these amounts based on the annual percentage change of the Consumer Price Index in effect on June 1, 2024. The final rule is effective January 1, 2025 (Consumer Financial Protection Bureau, Regulation Z) and was published in the Federal Register on December 2, 2024.

The CFPB is amending Regulation V, which implements the Fair Credit Reporting Act (FCRA). More... The CFPB is required to calculate annually the dollar amount of the maximum allowable charge for disclosures by a consumer reporting agency to a consumer pursuant to section 609 of the FCRA (15 U.S.C. 1681g); this final rule establishes the maximum allowable charge for the 2025 calendar year. The final rule is effective January 1, 2025 (Consumer Financial Protection Bureau, Regulation V) and was published in the Federal Register on November 29, 2024.