The Board is adopting amendments to Regulation D (Reserve Requirements of Depository Institutions) to eliminate references to an “interest on required reserves” rate and to an “interest on excess reserves” rate and replace them with a reference to a single “interest on reserve balances” rate; and to simplify the formula used to calculate the amount of interest paid on balances maintained by or on behalf of eligible institutions in master accounts at Federal Reserve Banks, and to make other conforming amendments. More... The final rule is effective July 29, 2021 (Regulation D, Docket R-1737) and was published in the Federal Register on June 4, 2021.

On May 13, 2021, the Board published in the Federal Register a proposal to amend Regulation II to clarify that the requirement that each debit card transaction must be able to be processed on at least two unaffiliated payment card networks applies to card-not-present transactions, clarify the requirements that Regulation II imposes on debit card issuers to ensure that at least two unaffiliated payment card networks have been enabled for debit card transactions, and standardize and clarify the use of certain terminology. More... The proposal provided for a comment period ending on July 12, 2021. The Board is extending the comment period for 30 days. Comments on this notice of proposed rulemaking must be received by August 11, 2021 (Docket R-1748).