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The Federal Reserve has published a final amendment to the rate of interest paid on Regulation D reserves to conform with last week's increase in the federal funds target rate.

The Fed announced the change when the Federal Open Market Committee last Wednesday announced an increase of a quarter point for the federal funds target rate, which had been set at 0 to 0.25 percent since 2008.

The Fed said that both the rate of interest paid on balances maintained to satisfy reserve balance and the rate of interest paid on excess balances maintained at Federal Reserve Banks will now be 0.50 percent, 0.25 percentage points higher than their previous levels. Credit unions and other depository institutions that maintain Reg D reserves may receive interest earnings from the Fed at least once a quarter.