Data / Federal rules / 2025-23390

Regulation D: Reserve Requirements of Depository Institutions

The Federal Reserve System published this final rule in the Federal Register on December 19, 2025. It took effect on December 19, 2025.

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What the agency says

The Board of Governors of the Federal Reserve System ("Board") has adopted final amendments to its Regulation D to revise the rate of interest paid on balances ("IORB") maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORB is 3.65 percent, a 0.25 percentage point decrease 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 ("FOMC" or "Committee").

Key facts

Document number: 2025-23390
Type: Final rule
Action: Final rule
Agency: Federal Reserve System
Published: December 19, 2025
Takes effect: December 19, 2025
Dates: Effective date: This rule is effective December 19, 2025.
Docket: Docket No. R-1883; RIN 7100-AH16
Code of Federal Regulations: 12 CFR 204
Topics: Banks, banking; Reporting and recordkeeping requirements
Pages: 2

The document on federalregister.gov PDF

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Everything from the Federal Reserve System · Rules on banks, banking · Rules on reporting and recordkeeping requirements · Published in December 2025

Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.