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Can you summarize 12 CFR Part 204?
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM > RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D)
Short Summary
The provided legal document content consists of multiple regulations issued by the Board of Governors of the Federal Reserve System, known as Regulation D. These regulations govern the reserve requirements imposed on various depository institutions. The purpose of these regulations is to facilitate the implementation of monetary policy by the Federal Reserve System. The regulations apply to insured banks, savings banks, mutual savings banks, insured credit unions, members of the Federal Home Loan Bank, insured institutions under the National Housing Act, foreign banks’ branches or agencies, Edge Corporations, and Agreement Corporations. However, there are exemptions for financial institutions that solely do business with other financial institutions and do not serve the general public, as well as deposits payable only at an office located outside the United States. The regulations do not specify any penalties for non-compliance or violation of their provisions.
Whom does it apply to?
Insured banks, savings banks, mutual savings banks, insured credit unions, members of the Federal Home Loan Bank, insured institutions under the National Housing Act, foreign banks' branches or agencies, Edge Corporations, and Agreement Corporations
What does it govern?
Reserve requirements imposed on various depository institutions
What are exemptions?
Financial institutions that solely do business with other financial institutions and do not serve the general public, as well as deposits payable only at an office located outside the United States
What are the Penalties?
The regulation does not specify any penalties for non-compliance or violation of its provisions.
Jurisdiction
U.S. Federal Government