اللائحة D (Regulation D) هي مجموعة من القواعد التي يفرضها البنك المركزي الفيدرالي في الولايات المتحدة، والتي تنظم متطلبات الاحتياطي البنكي. تهدف هذه اللائحة إلى التحكم في كمية الأموال المتاحة في النظام المالي وضمان استقرار النظام المصرفي. تشمل اللائحة قيودًا على عدد التحويلات والسحوبات التي يمكن للعملاء القيام بها من حسابات التوفير والحسابات النقدية، بالإضافة إلى تحديد نسبة الاحتياطي التي يجب على البنوك الاحتفاظ بها مقابل ودائعها.

The D regulation clearly explains

What is Regulation D?

Regulation D of the Federal Reserve is a federal legislation that limits consumers’ ability to make six “convenient” transfers or withdrawals per month from savings accounts and money market accounts. Those who exceed the limit typically face fees or potential account closure.

How does Regulation D work?

Regulation D aims to define commercial bank accounts designated for consumers – money market accounts and savings accounts – as a means to store their money long-term. By limiting the number of transfers and withdrawals per month, the regulation prevents consumers from using these accounts to pay bills or engage in other daily activities. Checking accounts are used for this purpose.

Benefits of Regulation D

Regulation D helps account holders save more money and protect the reserves of banks. The purpose of savings and money market accounts is to keep your money safe and grow your funds. The harder it is to withdraw cash, the less tempting it is to do so. The true goal of Regulation D is to prevent banks from running out of reserves. Customers want to ensure that their funds are available when needed and that the bank is not in financial trouble, which benefits everyone.

Drawbacks of Regulation D

If you exceed the allowed limit, you will incur fees or change the account’s status. Therefore, do not plan to use savings or money market accounts for bill payments or high-frequency transactions, as banks can impose fees or convert the account to a checking account if you exceed transaction limits. Despite the temporary suspension of the regulation by the Federal Reserve, individual banks can still choose to enforce the six-transaction monthly limit if they wish but cannot blame the Federal Reserve for it. Overdraft protection withdrawals from the linked checking account count toward the allowed limit.

Why did the Federal Reserve suspend Regulation D?

When the COVID-19 pandemic created an economic crisis, the Federal Reserve decided to suspend Regulation D as of April 24, 2020. This means there are currently no restrictions on transfer and withdrawal activities from deposit accounts according to the Federal Reserve.

However, the regulation allows banks to maintain the limit if they choose. The idea is to allow banks to provide their customers with convenient access to their funds, especially at a time when people are encouraged not to visit bank branches in person. Overdraft protection is also likely to be used more frequently during this time. For these reasons, the National Credit Union Association (CUNA) was one of the groups that urged the Federal Reserve to suspend the regulation.

Although easing the restrictions undoubtedly helps consumers, the Federal Reserve also indicates in its announcement that as part of its current monetary policy approach, the reserve requirements for both “transaction” and “savings” accounts have been set to zero, eliminating the need to encourage banks to maintain distinctions between types of accounts.

How do changes to Regulation D affect you and your savings account?

Regardless of the suspension of Regulation D, banks decide whether to maintain and enforce withdrawal limits. The main difference is that if they still wish to impose fees, the Federal Reserve no longer enforces the rules.

Some banks continue to operate as usual, so it’s best to pay attention to your notifications or call your bank and inquire about withdrawal limits or fees.

Your best option, if you anticipate needing to withdraw money from your deposit accounts, is to determine the amount you need and then make a large transfer to your checking account, where there are no withdrawal limits.

Conclusions

Main

Regulation D of the Federal Reserve imposes a limit of six withdrawals/transfers per month on deposit accounts, including savings accounts and money market accounts. Due to the COVID-19 pandemic, the regulation has been temporarily suspended, and no date for its resumption has been announced. Banks are still allowed to charge fees or transfer accounts if customers exceed the monthly limit of six transactions, but they are not obligated to do so. Check with your bank for the best options if you need to access your deposits.

Source: https://www.thebalancemoney.com/what-is-regulation-d-5074854