WASHINGTON -- The Federal Reserve on Friday announced annual adjustments to the level of transaction accounts that are subject to reserve requirements.
These adjustments are made each year, as required by law.
For next year, the volume of transaction accounts subject to a reserve requirement ratio of 3% will rise to $51.9 million, up from a volume of $46.8 million this year.
In addition, the amount of reservable liabilities exempted from reserve requirements will rise next year to $4 million, up from the current level of $3.8 million.
To Maintain Cutoff Level
For lenders that report weekly, the new levels will be effective beginning on Dec. 21. For those that report quarterly, the new levels will take effect on Dec. 14.
The Fed also announced Friday that it would not change the current cutoff level that determines whether lenders report weekly or quarterly.
That level will continue to be $44.8 million of deposits.