District Circular Letters
November 12, 1997
REGULATION D:
NATIONWIDE RESERVE ACCOUNTS
To Depository Institutions
in the Twelfth Federal Reserve District
Final Rule Allowing Aggregation of Reserves in a Single Account
(Docket R-0980)
The Federal Reserve Board has announced amendments to its Regulation
D (Reserve Requirements of Depository Institutions) to allow U.S. branches
and agencies of foreign banks and Edge and Agreement Corporations to choose
whether to aggregate reserve balances on a nationwide basis with a single
pass-through correspondent or to continue to maintain reserve balances
on a same-state/same-District basis, as they do today.
The amendments are effective January 1, 1998.
The amendments also update and clarify the pass-through rules in Regulation
D for all institutions. These amendments will facilitate interstate banking
and branching and eliminate certain restrictions applicable to pass-through
arrangements.
Copies
Copies of the Board's notice (Docket
R-0980) are available from our Corporate Services Department.
To request copies to be sent via mail, please call (415) 974-2748. To
request copies to be sent via fax, please call (415) 974-3333, and specify
document numbers 4167.
Additional Information
For additional information regarding Regulation D (Reserve Requirements
of Depository Institutions), please contact our Statistics Department,
at (415) 974-3098.
FEDERAL RESERVE BANK OF SAN FRANCISCO
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