Prior to 1986, Regulation Q limited the interest rate that depository institutions could pay on deposits and allowed savings institutions to pay a slightly higher rate than banks.

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This is true. Regulation Q was a federal banking regulation that limited the interest rates that depository institutions (such as banks and savings institutions) could pay on deposits. Prior to 1986, savings institutions were allowed to pay a slightly higher rate than banks.

Prior to 1986, Regulation Q Limited the Interest Rate That