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 December 20, 2017 (Regulation A at 2-001, Docket R-1592) and was published in the Federal Register on December 20, 2017. The rate changes for primary and secondary credit were applicable on December 14, 2017.

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 1.50 percent and IOER is 1.50 percent, a 0.25 percentage point increase from their prior levels. The amendments are intended to enhance the role of such rates of interest in moving the federal funds rate into the target range established by the Federal Open Market Committee. The final rule is effective December 20, 2017 (Regulation D at 2-122, Docket R-1593) and was published in the Federal Register on December 20, 2017. The IORR and IOER rate changes were applicable on December 14, 2017.

The Board, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, and the Office of the Comptroller of the Currency (OCC) issued on December 15, 2017, Interagency Supervisory Examiner Guidance for Institutions Affected by a Major Disaster to provide examiner guidance highlighting supervisory practices to be followed after a major disaster. More... The supervisory approach described in the guidance provides examiners flexibility to conduct supervisory activities and formulate their supervisory responses considering the issues confronting institutions affected by a major disaster (Guidance, Examinations and Inspections at 3-1532.8).

The Board published a final rule in the Federal Register on October 11, 2013, regarding regulatory capital rules. The Board is issuing amendments that corrects a typographical error in those rules whereby a transition provision was unintentionally deleted. More... The Board also published inconsistent amendments to Regulation Q in final rules published in the Federal Register on May 1, 2014, and August 14, 2015, that pertain to firms identified as global systemically important bank holding companies. This issuance resolves these inconsistencies. The final rule is effective January 8, 2018 (Regulation Q at 3-2100, Dockets R-1442, R-1460, and R-1535) and was published in the Federal Register on January 8, 2018.

The Board is repealing its Regulation C, which was issued to implement the Home Mortgage Disclosure Act (HMDA). Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws, including HMDA, from the Board to the Consumer Financial Protection Bureau (CFPB). More... HMDA requires covered financial institutions to collect and report loan data in connection with residential mortgage applications and loans. Although the Board retains authority to issue some consumer financial protection rules, all rulemaking authority under HMDA concerning mortgage loan transactions was transferred to the CFPB. In December 2011, the CFPB published an interim final rule establishing its own Regulation C to implement HMDA, which superseded the Board’s Regulation C. In October 2015, the CFPB revised its own Regulation C to expand and revise the data collection and reporting regime required under HMDA, as amended by the Dodd-Frank Act. In April 2016, the CFPB published a final rule adopting the December 2011 interim final rule, as revised by the October 2015 final rule. Accordingly, the Board is repealing its Regulation C and the Official Staff Commentary that accompanies the regulation. The final rule is effective January 22, 2018 (Regulation C at 6-200, Docket R-1590) and was published in the Federal Register on December 22, 2017.

The Board, the FDIC, and the OCC are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define “small bank” or “small savings association” and “intermediate small bank” or “intermediate small savings association.” More... As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The FDIC is also amending its definition of “consumer loan” to correct a typographical error included in a CRA final rule issued on November 24, 2017. The final rule is effective January 1, 2018 (Regulation BB at 6-1220, Docket R-1574) and was published in the Federal Register on December 27, 2017.

The CFPB issued a final rule amending the official commentary that interprets the requirements of the CFPB’s Regulation C (Home Mortgage Disclosure) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the CPI-W. More... Based on the 2.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2017, the exemption threshold is adjusted to increase to $45 million from $44 million. Therefore, banks, savings associations, and credit unions with assets of $45 million or less as of December 31, 2017, are exempt from collecting data in 2018. The final rule is effective January 1, 2018 (Consumer Financial Protection Bureau, Regulation C at 6-5200) and was published in the Federal Register on December 27, 2017.

The CFPB is amending the official commentary that interprets the requirements of the CFPB’s Regulation Z (Truth in Lending) to reflect a change in the asset-size threshold for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan based on the annual percentage change in the average of the CPI-W for the 12-month period ending in November. More... The exemption threshold is adjusted to increase to $2.112 billion from $2.069 billion. The adjustment is based on the 2.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2017. Therefore, creditors with assets of less than $2.112 billion (including assets of certain affiliates) as of December 31, 2017, are exempt, if other requirements of Regulation Z also are met, from establishing escrow accounts for higher-priced mortgage loans in 2018. This asset limit will also apply during a grace period, in certain circumstances, with respect to transactions with applications received before April 1 of 2019. The adjustment to the escrows asset-size exemption threshold will also increase a similar threshold for small-creditor portfolio and balloon-payment qualified mortgages. Balloon-payment qualified mortgages that satisfy all applicable criteria, including being made by creditors that have (together with certain affiliates) total assets below the threshold, are also excepted from the prohibition on balloon payments for high-cost mortgages. The final rule is effective January 1, 2018 (Consumer Financial Protection Bureau, Regulation Z at 6-5600) and was published in the Federal Register on December 27, 2017.

The Board issued a final rule amending its rules of practice and procedure to adjust the amount of each civil money penalty provided by law within its jurisdiction to account for inflation as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. More... The final rule is effective January 10, 2018 (Procedural and Organizational Rules, Rules of Practice for Hearings at 8-043, Docket R-1595) and was published in the Federal Register on January 10, 2018.

The Board is proposing to revise its Regulation M, which was issued to implement the Consumer Leasing Act (CLA). Title X of the Dodd-Frank Act transferred rulemaking authority for a number of consumer financial protection laws, including the CLA, from the Board to the CFPB. More... Under section 1029 of the Dodd-Frank Act, however, the Board retains authority to issue rules for motor vehicle dealers that are predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both, and are otherwise not subject to the CFPB’s regulatory authority. The Board is proposing to revise its Regulation M and the accompanying Official Staff Commentary to reflect this change in the persons covered by the Board’s Regulation M. Comments on this notice of proposed rulemaking must be received by March 5, 2018 (Docket R-1591).