New regs for Tuesday: TV, interest, credit

Tuesday’s edition of the Federal Register contains new television rules, as well as a rise in interest and credit rates from the Federal Reserve.

Here’s what is happening:

Television: The Federal Communications Commission is moving forward with new channel-sharing rules.

The rules go into effect in 30 days.

Interest: The Federal Reserve is increasing the interest rate it pays for bank reserves.

The Fed will pay an interest rate of 1 percent for bank “balances maintained to satisfy reserve balance requirements” as well as “excess balances maintained at Federal Reserve Banks.”

The new interest rates go into effect immediately.

Credit: The Fed is also raising the credit rate it charges banks to provide backup funding to 1.5 percent.

“The Federal Reserve banks make primary and secondary credit available to depository institutions as a backup source of funding on a short-term basis, usually overnight,” the agency wrote. “The primary and secondary credit rates are the interest rates that the twelve Federal Reserve banks charge for extensions of credit under these programs.”

The changes go into effect immediately.