What did the depository institutions Deregulation and Monetary Control Act do?

Depository Institutions Deregulation and Monetary Control Act of 1980 – =Title I: Monetary Control Act of 1980= – Amends the Federal Reserve Act to authorize the Board of Governors of the Federal Reserve System to require all Federal and State banks, thrift institutions, and credit unions to submit such periodic …

What is the fr2900?

FR 2900 (Commercial Banks) Description: This report collects information on select deposits and vault cash from depository institutions.

Which banks are subject to reserve requirements?

All depository institutions, including commercial banks, savings banks, savings and loan associations, credit unions, and agencies and branches of foreign banks located in the United States, are subject to reserve requirements.

What are Eurocurrency liabilities?

What are Eurocurrency liabilities? For depository institutions, Eurocurrency liabilities are net balances due by a depository institution to its non-U.S. offices. For U.S. branches and agencies of foreign banks, Eurocurrency liabilities are net balances due to its foreign bank after making certain deductions.

What was the result of the Monetary Control Act of 1980?

The Monetary Control Act of 1980 radically changed the role of the Federal Reserve in the interbank clearing market. Among other things, the Act required the Fed to give all depository institutions equal access to its payments services and to price those services competitively.

What is the Garn-St Germain Depository Institutions Act of 1982?

GARN-ST GERMAIN DEPOSITORY INSTITUTIONS ACT OF 1982 To revitalize the housing industry by strengthening the financial stability of home mortgage lending institutions and ensuring the availability of home mortgage loans.

Is the fr2900 still required?

Second, the quarterly reporting of FR 2900 items (FR 2900Q) will be discontinued, effective January 1, 2021. 14 Data collected on the FR 2900Q have been used for the calculation of the required reserves of respondent depository institutions and in the estimation of the monetary aggregates.

What accounts are covered by Reg DD?

It includes time, demand, savings, and negotiable order of withdrawal accounts. Regulation DD covers interest-bearing as well as noninterest-bearing accounts.

What is the reserve requirement 2021?

The Regulation D amendments set the reserve requirement exemption amount for 2022 at $32.4 million (increased from $21.1 million in 2021) and the amount of the low reserve tranche at $640.6 million (increased from $182.9 million in 2021).

What is a Eurocurrency deposit?

The term eurocurrency refers to currency deposits held at banks outside of their country of origin. The most famous example of eurocurrency is the eurodollar, which involves U.S. dollar (USD) deposits held outside the United States.

What is not a Eurocurrency?

Contrary to its name, the term does not refer to euros that are deposited outside of Europe. It is a general term that applies to all currencies that are deposited anywhere outside of its local country. For example, if you deposit Japanese yen at a bank in the United States, it is considered to be Eurocurrency.