Regulation D: Reserve Requirements of Depository Institutions

What it does

The Board of Governors of the Federal Reserve System (Board) proposes to amend its Regulation D (Reserve Requirements of Depository Institutions) to differentiate between master accounts and a proposed new category of special-purpose payment accounts (Payment Accounts). The proposed amendments would exclude Payment Accounts from Regulation D's provisions directing Federal Reserve Banks (Reserve Banks) to pay interest on balances maintained at a Reserve Bank. As a result, the Reserve Banks would not pay interest on balances maintained in Payment Accounts. The proposal would not affect reserve requirement ratios, which would remain zero.

The Federal Reserve System's summary, as published in the Federal Register.

What it would change

1 part of Title 12 of the Code of Federal Regulations:

12 CFR 204

Before this

No earlier Federal Register document under regulation identifier 7100-AH25 since Jan. 1, 2025.

What happens next and when

Comments must be received on or before July 27, 2026.

The agency's dates, word for word.

Check it yourself

• The document in the Federal Register
• Title 12 on eCFR

The record as published

Source: the Federal Register (public domain). The document in the Federal Register