Data Dictionary

Item Number J897
OTHER LIABILITIES: INTEREST ON RESERVES DUE TO DEPOSITORY INSTITUTIONS

Call confidentiality applies to FFIEC 031/041.

Series Start Date End Date Confidential? Reporting Forms
FRBSJ897 2008-10-24 9999-12-31 Yes FR 34

Data Description:

Title II of the Financial Services Regulatory Relief Act of 2006 granted the Federal Reserve authority to pay interest to depository institutions for balances held at Reserve Banks effective in 2011. Section 128 of the Emergency Economic Stabilization Act of 2008 accelerated this authority to October 9, 2008. Accordingly, the Reserve Banks began paying explicit interest to depository institutions on balances held at Reserve Banks to satisfy reserve requirements and on balances held in excess of required reserve balances. Payments are made 15 days after the maintenance period is finalized. Accruals are recorded in this liability account each week as interest is earned.

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Last update: Mar 20, 2024