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.
These proposals may well sound familiar to you and they should. The Board has supported these amendments for many years because we believe each of them would improve the operation of our financial system.