Depository institutions will receive larger reimbursements for providing documents to federal regulators under a rule adopted Wednesday by the Federal Reserve Board.
The Fed voted unanimously to boost to 25 cents per page the amount institutions must be reimbursed for photocopies of paper documents requested by regulators. That's an increase of 10 cents.
The rate for copying microfiche to paper also increased by 10 cents, to 25 cents, and the rate for duplicating microfiche to microfiche increased 20 cents, to 50 cents.
Wednesday's action made these changes to Regulation S, which establishes the rates of and conditions for reimbursement to financial institutions that provide records to regulators. Regulation S implements the Right to Financial Privacy Act of 1978.
The changes will take effect one month after the rule is published in the Federal Register, which may occur as early as next week.