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 October 7, 2022 (Regulation A, Docket R-1780), the same day it was published in the Federal Register. The rate changes for primary and secondary credit were applicable on September 22, 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 3.15 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 October 7, 2022 (Regulation D, Docket R-1781), the same day it was published in the Federal Register. The IORB rate change was applicable on September 22, 2022.

The Board adopted a final rule that revises its rules regarding delegation of authority. More... The final rule codifies and revises delegations of authority previously approved by the Board, makes technical changes, and rescinds moot or superseded delegations. The final rule is effective September 1, 2022 (yRules Regarding Delegation of Authority, Docket R-1778), the same day it was published in the Federal Register.

Pursuant to the provisions of the Privacy Act of 1974, notice was given that the Board proposes to modify existing system of records, BGFRS-3 “FRB—Medical Records.” More... This system of records includes information relating to medical examinations and drug testing of current and prospective employees, and any other medical-related information that may be submitted by employees, contractors, candidates for Board employment, and members of the public. The modified system of records will become effective October 27, 2022, without further notice, 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 September 27, 2022.

The Board is proposing to amend the requirements relating to operational risk management in the Board’s Regulation HH, which applies to certain financial market utilities (FMUs) that have been designated as systemically important by the Financial Stability Oversight Council (FSOC) under title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. More... The proposal would update, refine, and add specificity to the operational risk-management requirements in Regulation HH to reflect changes in the operational risk, technology, and regulatory landscapes in which designated FMUs operate since the Board last amended this regulation in 2014. The proposal would also adopt specific incident-notification requirements. Comments on this notice of proposed rulemaking must be received by December 5, 2022 (Docket R-1782).

The Board and the Federal Deposit Insurance Corporation (FDIC) are publishing for public comment this advance notice of proposed rulemaking to solicit public input regarding whether an extra layer of loss-absorbing capacity could improve optionality in resolving a large banking organization or its insured depository institution, and the costs and benefits of such a requirement. More... This may, among other things, address financial stability by limiting contagion risk through the reduction in the likelihood of uninsured depositors suffering loss, and keep various resolution options open for the FDIC to resolve a firm in a way that minimizes the long-term risk to financial stability and preserves optionality. The agencies are seeking comment on all aspects of this advance notice of proposed rulemaking from all interested parties and also request commenters to identify other issues that the Board and FDIC should consider. Comments on this advance notice of proposed rulemaking must be received by December 23, 2022 (Docket R-1786).