In this issue;
- PCAOB Solicits Comments on Proposed Amendments to Improve Audit Transparency
- SEC’s Division of Corporation Finance Issues Cybersecurity Disclosure Guidance
- FINRA to Require Electronic Submission of Annual Audit Reports
- FINRA May Not Bring Civil Actions to Collect Disciplinary Fines
- Brokerage Firm’s Sale of Account Holder’s Securities Not a Securities Violation
- Volcker Rule Proposal Issued By Federal Reserve, FDIC, and SEC
- Financial Stability Oversight Council Issues Proposed Rule on Which Non-Bank Financial Companies Will Be Subject to Regulation
- Federal Reserve Proposes Changes in Reserve Requirements Of Depository Institutions and Related Programs
An excerpt from Federal Reserve Proposes Changes in Reserve Requirements Of Depository Institutions and Related Programs
Section 19 of the Federal Reserve Act (the Act) authorizes the Board of Governors of the Federal Reserve System (the Board) to impose reserve requirements on certain deposits and other liabilities of depository institutions for the purpose of implementing monetary policy. The Board’s Regulation D (Reserve Requirements of Depository Institutions, 12 CFR part 204) implements section 19 of the Act. Transaction account balances maintained at each depository institution are subject to reserve requirement ratios of zero, three, or ten percent, depending on the level of transaction accounts at that institution.
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