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Regulation Q is a Federal Reserve Board Regulation imposing restrictions on the payment of interest on checking accounts. The rule was adopted in 1933 and prohibits banks from paying interest to its customers holding checking accounts. The prohibition was lifted in 2011 after it was repealed.

The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India. At present, the GIFT IFSC is the maiden international financial services centre in India.

What Is Regulation Q? Regulation Q is a Federal Reserve Board (FRB) rule that sets "minimum capital requirements and capital adequacy standards for board regulated institutions" in the United States. Regulation Q was updated in 2013 in the aftermath of the 2007?2008 financial crisis and continues to go through changes.

In the U.S., banking is regulated at both the federal and state level. Depending on the type of charter a banking organization has and on its organizational structure, it may be subject to numerous federal and state banking regulations.

Institution Supervision The Federal Reserve is responsible for supervising--monitoring, inspecting, and examining--certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner.

The International Financial Services Centres Authority (IFSCA) was established by the Government of India to develop and regulate international financial services centres in the country.

Regulation Q- type interest rate ceilings on transactions accounts, passbook savings accounts, and small time deposits prevent banks from paying a competitive rate of inter- est when market rates exceed the ceiling rates. When this occurs, the behavior of banks, depositors, and borrowers changes.

Laws & Regulations Overview The OCC is the primary regulator of banks chartered under the National Bank Act (12 USC 1 et seq.) and federal savings associations chartered under the Home Owners' Loan Act of 1933 (12 USC 1461 et seq.).

Common bank regulations include reserve requirements, which dictate how much money banks must keep on hand; capital requirements, which dictate how much money banks can lend; and liquidity requirements, which dictate how easily banks can convert their assets into cash.

From 1933 until 2011, an earlier version of Regulation Q imposed various restrictions on the payment of interest on deposit accounts. During that entire period, it prohibited banks from paying interest on demand deposits.