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Advanced Search About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Home > News & Events > Press Releases Press Release October 11, 2011 Federal Reserve Board seeks comment on proposed rules intended to simplify the administration of reserve requirements For immediate release Share The Federal Reserve Board on Tuesday requested comment on proposed rules intended to simplify the administration of reserve requirements and reduce administrative and operational costs for both depository institutions and Reserve Banks. The proposals do not affect the stance of monetary policy. The proposed simplifications to Regulation D (Reserve Requirements of Depository Institutions) are: creating a common two-week maintenance period for all depository institutions creating a penalty-free band around reserve balance requirements in place of using carryover and routine penalty waivers discontinuing as-of adjustments related to deposit revisions and replacing all other as-of adjustments with direct compensation and eliminating the contractual clearing balance program In connection with the proposed elimination of the contractual clearing balance program, the Board is requesting comment on several issues related to the methodology used for the Private Sector Adjustment Factor that is part of the pricing of Federal Reserve Bank services. Proposed amendments to Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) would eliminate references in Regulation J to "as-of adjustments," consistent with the proposed amendments to Regulation D, and make clarifications about the handling of checks and funds transfers sent to the Federal Reserve Banks. Comments on the proposal must be submitted within 60 days from the date of publication in the Federal Register, which is expected shortly. Federal Register notice Regulation J Federal Register notice Regulation D For media inquiries, call 202-452-2955. Last Update: October 11, 2011 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551