The COVID Project
The record
- Jurisdiction
- United States
- Level
- Federal
- Authority
- Federal Reserve Act sec. 19, 12 U.S.C. 461; 12 C.F.R. part 204
- Issued
- 2020-04-24 Apr. 24, 2020
- Effective
- 2020-04-24 (applicability Apr. 23, 2020) (read as 2020-04-24)
- End
- n/a (permanent) (read as 2021-09-30)
- In force
- Apr. 24, 2020 to Sept. 30, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- Functions reached
- BR (customers unable to reach branches)
- OP (account administration systems)
- CC
- Collection
- Financial Services SEC-13
Operative words
The Board of Governors of the Federal Reserve System is amending its Regulation D (Reserve Requirements of Depository Institutions) to delete the numeric limits on certain kinds of transfers and withdrawals that may be made each month from 'savings deposits.' The amendments are intended to allow depository institution customers more convenient access to their funds and to simplify account administration for depository institutions.
Enforcement
Notes
The preamble ties the change to customers' inability to reach branches under the stay-home orders.
Retrieval notedate_issued 2020-04-24 is the signing date; published 85 Fed. Reg. 23445 (Apr. 28, 2020); the file name carries the Federal Register date.