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Alert! Impact of Reg D Changes

May 15 2:00 PM - May 15, 2020 3:30 PM
May 15, 2020 2:00 PM - 3:30 PM

The COVID-19 pandemic is wreaking financial havoc. More than ever,accountholders need access to all their available cash. The Federal Reserve Board has created an interim rule to suspend the limit on savings withdrawals. Learn about the impact and implementation of Reg D changes.

Learning Objectives

  • Step-by-step implementation changes
  • Notice to accountholders
  • System changes
  • Charges and fees
  • Truth in Savings disclosures
  • Which reports will change

During the coronavirus pandemic, savings account access is more urgent than ever. The Federal Reserve Board recently announced an interim final rule to amend Regulation D (Reserve Requirements of Depository Institutions). The change eliminates the six-per month limit on convenient transfers from "savings deposit" accounts. The rule allows depository institutions to immediately suspend enforcement of the six-transfer limit and allow accountholders to make an unlimited number of convenient transfers and withdrawals from their savings. The regulatory limit in Regulation D was the basis for distinguishing between reservable"transaction accounts" and non-reservable "savings deposits." The Board's recent action reducing all reserve requirement ratios to zero has rendered this distinction moot.Concurrently, the Federal Reserve is making temporary revisions to the FR 2900 series, FR Y-9, and FR 2886b reports to reflect the amendments to Regulation D. Join us to learn how to comply with Reg D changes.



Deborah L. Crawford, Gettechnical Inc

Deborah Crawford is the President of Gettechnical Inc., a Baton Rouge-based firm, specializing in the education of financial institutions across the nation. Her 30+ years of experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor’s and master’s degrees.Debbie specializes in the education of financial institution employees and officers in the areas of deposit account laws, new account documentation, insurance, complex compliance regulations, and IRAs.




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On-Demand Webinar

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