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 August 2, 2023 (Regulation A, Docket R–1811), the same day it was published in the Federal Register. The rate changes for primary and secondary credit were applicable on July 27, 2023.

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 5.4 percent, a 0.25 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 August 2, 2023 (Regulation D, Docket R–1812), the same day it was published in the Federal Register. The IORB rate change was applicable on July 27, 2023.

The Consumer Financial Protection Bureau (CFPB) is amending Regulation B to implement changes to the Equal Credit Opportunity Act made by section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Consistent with section 1071, covered financial institutions are required to collect and report to the CFPB data on applications for credit for small businesses, including those that are owned by women or minorities. More... The final rule also addresses the CFPB’s approach to privacy interests and the publication of data; shielding certain demographic data from underwriters and other persons; recordkeeping requirements; enforcement provisions; and the rule’s effective and compliance dates. The final rule is effective August 29, 2023 (Consumer Financial Protection Bureau, CFPB’s Regulation B, Docket CFPB–2021–0015) and was published in the Federal Register on May 31, 2023.

The Board, the CFPB, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency are issuing proposed guidance that would highlight risks associated with deficient residential real estate valuations and describe how financial institutions may incorporate reconsiderations of value processes and controls into established risk-management functions. More... The proposed guidance would also highlight examples of policies and procedures that a financial institution may choose to establish to help identify, address, and mitigate the risk of discrimination impacting residential real estate valuations. Comments on this notice of proposed interagency guidance must be received by September 19, 2023 (Docket OP–1809).