Transmittal Archive

The Board has adopted final amendments to its Regulation A to reflect the Board’s approval of an increase in the rate for primary credit at each Federal Reserve Bank. More... The secondary credit rate at each Reserve Bank automatically increased by formula as a result of the Board’s primary credit rate action. The final rule is effective June 29, 2022 (Regulation A, Docket R-1773), the same day it was published in the Federal Register. The rate changes for primary and secondary credit were applicable on June 16, 2022.

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 1.65 percent, a 0.75 percentage point increase 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 June 29, 2022 (Regulation D, Docket R-1774), the same day it was published in the Federal Register. The IORB rate change was applicable on June 16, 2022.

The Consumer Financial Protection Bureau (CFPB) is amending Regulation V, which implements the Fair Credit Reporting Act, to address recent legislation that assists consumers who are victims of trafficking. More... This final rule establishes a method for a victim of trafficking to submit documentation to consumer reporting agencies, including information identifying any adverse item of information about the consumer that resulted from certain types of human trafficking, and prohibits the consumer reporting agencies from furnishing a consumer report containing the adverse item(s) of information. The CFPB is taking this action as mandated by the National Defense Authorization Act for Fiscal Year 2022 to assist consumers who are victims of trafficking in building or rebuilding financial stability and personal independence. The final rule is effective July 25, 2022 (Consumer Financial Protection Bureau, Regulation V, Docket CFPB-2022-0023) and was published in the Federal Register on June 24, 2022.