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 November 17, 2022 (Regulation A, Docket R-1789), the same day it was published in the Federal Register. The rate changes for primary and secondary credit were applicable on November 3, 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 3.90 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 November 17, 2022 (Regulation D, Docket R-1790), the same day it was published in the Federal Register. The IORB rate change was applicable on November 3, 2022.