To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The following is from a statement issued by the Board of Governors of the Federal Reserve System:
The Federal Reserve Board has announced a decrease from $52.0 million to $49.3 million in the net transaction accounts to which a 3 percent reserve requirement will apply in 1997.
The Board also changed from $4.3 million to $4.4 million the amount of reservable liabilities of each depository institution that is subject to a reserve requirement of zero percent.
Additionally, the Board increased the deposit cutoff levels that are used in conjunction with the exemption level to determine the frequency and detail of deposit reporting required for each institution from $57.0 million to $59.3 million for nonexempt depository institutions and from $46.4 million to $48.2 million for exempt depository institutions.
The text of an amendment to the Board's Regulation D reflecting these actions, as published in the Federal Register of November 27, is available.
Questions regarding Regulation D may be directed to the following:
Valerie I. Rainford, Credit and Risk Management Officer
William A. Walsh, Staff Director, Discount Division
Lessa J. Gomez, Reports Team Leader, Deposits Reports Division
Interpretation of Regulation D:
Michael Schussler, Counsel
Janice A. Oser, Supervising Examiner, Compliance Examinations Department