Circular
Reserve Requirements of Depository Institutions
July 1, 1996
Circular No. 10859

Proposed Amendments to Regulation D

Comments Due August 16

To All Depository Institutions, and Others Concerned in the Second Federal Reserve District:

The Board of Governors of the Federal Reserve System is proposing to amend its Regulation D, "Reserve Requirements of Depository Institutions," in order to reduce the regulatory burden and to simplify and update requirements.

In general, the proposed amendments would delete transitional rules relating to the expansion of reserve requirements to nonmember depository institutions, the authorization of NOW accounts nationwide, and other matters that no longer have a significant effect.

Printed on the following pages is the text of the proposal, as printed in the Federal Register of June 17. Comments thereon should be submitted by August 16, 1996, and may be sent to the Board, as specified in the notice, or to our Compliance Examinations Department.

The text of the proposal, as printed in the Federal Register of June 17. Additional single copies may be obtained from the Circulars Division of this Bank. Comments thereon should be submitted by August 16, 1996, and may be sent to the Board, as specified in the notice, or to our Compliance Examinations Department.