More Shake Out from COVID-19: Federal Reserve Eases Reg D Restrictions – WST

2020-05-12T21:04:05+00:00

May 7, 2020 More Shake Out from COVID-19:  Federal Reserve Eases Reg D Restrictions - WST What Is Changing in Reg D? In an effort to provide consumers easier access to their funds during the COVID-19 pandemic, the Federal Reserve recently issued an interim final rule, effective immediately, revising the definition of a “savings deposit” account and deleting the six-per-month limit on convenient transfers. This action by the Federal Reserve reduces all reserve requirement ratios to zero and eliminates the need to distinguish between reservable “transaction accounts” and non-reservable “savings deposits”.  Also noteworthy is that the Federal Reserve [...]