Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Fed Board amends rates in Regs A and D
The Federal Reserve Board has published final rules in today's Federal Register amending Regulation A (Extensions of Credit by Federal Reserve Banks) and Regulation D (Reserve Requirements of Depository Institutions) to increase certain interest rates.
- The amendment to Regulation A, published at 87 FR 29649, reflects the Board's approval of a 0.5 percent increase (to 1.00 percent) in the rate for primary credit at each Federal Reserve Bank. The interest rate for secondary credit automatically increases by formula to 1.50 percent.
- The amendment to Regulation D, published at 87 FR 29650, revises the rate of interest paid on reserve balances (“IORB”) maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORB is 0.90 percent, a 0.50 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.
Both amendments are effective today, May 16, 2022, and applicable as of May 5, 2022.