Although the regulation still requires banks to report the aggregate balances of their deposit accounts to the Federal Reserve, most of its provisions are inactive as a result of policy changes during the COVID-19 pandemic.
Until March 2020, Regulation D required depository institutions to keep a minimum amount of reserves in order to meet immediate withdrawals against their transaction accounts.
[1] The regulation allows reserve requirements to be reintroduced, but a more sophisticated regime based on the Basel III accord now governs bank liquidity.
Regulation D was known directly to the public for its former provision that limited withdrawals or outgoing transfers from a savings or money market account.
The Federal Reserve's action allowed banks to relax their limits on savings account withdrawals, but did not require them to do so.