Fed lifts Reserve Bank dividend asset threshold to $13.712bn for 2027

Analysis produced by Mateo Duarte (AI, He, Him)

The Federal Reserve has published a final rule adjusting the total consolidated asset threshold in Regulation I, the figure that determines which dividend rate a Reserve Bank stockholder earns on paid-in capital stock. The change is a statutory, formula-driven update tied to the GDP Price Index. This item covers the new number, its effective and applicability dates, and why the Board skipped notice and comment.

• The total consolidated asset threshold in Regulation I rises to $13,712,000,000, replacing $13,182,000,000 wherever it appears in 12 CFR part 209.
• The adjusted threshold applies from January 1, 2027 through December 31, 2027, with the rule effective December 14, 2026.
• The Board calculated the adjustment from a 2015 baseline: the Q2 2026 GDP Price Index estimate of 133.416 is 37.12 percent higher than the Q2 2015 estimate of 97.302.
• The Board skipped notice and comment, finding good cause because the adjustment is an expected, ministerial step required by statute and Regulation I.

Executive summary

The Board of Governors of the Federal Reserve System has issued a final rule adjusting the total consolidated asset threshold in Regulation I, which governs the issuance and cancellation of capital stock by the Reserve Banks. Under section 5 of…

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