The Board of Governors is revising its 1980 interpretation of Regulation D (Reserve Requirements of Depository Institutions) setting forth criteria for the "bankers' bank" exemption from reserve requirements. The interpretation sets forth the standards that the Board uses in applying the statutory and regulatory requirements for the bankers' banks exemption to specific institutions. The revised interpretation specifies that the Board may determine, on a case-by- case basis, whether certain entities not already expressly listed in the interpretation may become customers to a limited extent of bankers' banks that remain exempt from reserve requirements.