Press Release

February 18, 2016 Federal Reserve Board issues interim final rule regarding dividend payments on Reserve Bank capital stock For release at 4:00 p.m. EST Share The Federal Reserve Board on Thursday issued an interim final rule that amends Regulation I to implement provisions of the Fixing America's Surface Transportation (FAST) Act. The FAST Act reduced the dividend rate applicable to Reserve Bank depository institution stockholders with total assets of more than $10 billion (large member banks) to the lesser of 6 percent or the most recent 10-year Treasury auction rate prior to the dividend payment. The dividend rate for other member banks remains at 6 percent. Reserve Banks typically pay dividends to member banks in June and December each year. The interim final rule also adjusts the treatment of accrued dividends when a Reserve Bank issues or cancels capital stock owned by a large member bank. The interim final rule is effective upon publication in the Federal Register . The Board will accept comments on the interim final rule for 60 days after publication in the Federal Register . For media inquiries, call 202-452-2955. Federal Register notice: PDF | HTML Comments: View Board Votes

Federal Reserve (2016, February 17). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20160218_federal_reserve_board_issues_interim_final_rule

@misc{wtfs_press_release_20160218_federal_reserve_board_issues_interim_final_rule,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2016},
  month = {Feb},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20160218_federal_reserve_board_issues_interim_final_rule},
  note = {Retrieved via When the Fed Speaks corpus}
}