The Federal Reserve Board is requesting comments on proposed simplifications to Regulation D (Reserve Requirements of Depository Institutions). Comments are due by Dec. 19, 2011.
The proposed simplifications to the reg include:
In connection with the proposed elimination of the contractual clearing balance pro-gram, the board requests comment on several issues related to the methodology used for the Private Sector Adjustment Factor that is part of the pricing of Federal Reserve Bank services.
In addition, proposed amendments to Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) would eliminate references in Reg J to “as-of adjustments,” consistent with the proposed amendments to Reg D.
They would also clarify the handling of checks and funds transfers sent to the Federal Reserve Banks.
See CUNA’s e-Guide to Federal Laws and Regulations for more information (cuna.org, select “regulations & compliance”).