In my remarks, I will highlight the three items that are the Board's highest regulatory relief priorities. These proposals would allow the Federal Reserve to pay interest on balances held by depository institutions at Reserve Banks, provide the Board greater flexibility in setting reserve requirements, and permit depository institutions to pay interest on demand deposits.
• •  •  We launched instant payments relatively early in Denmark – giving us an edge we should maintain. Handling anti-money laundering rules and customer knowledge requirements present a great challenge, both for banks and public authorities. Vast resources are being devoted to this area, and the results may not justify the resources spent.