What does Regulation D primarily set?

Regulation D primarily addresses reserve requirements that depository institutions must maintain with the Federal Reserve. It outlines the minimum reserves that banks and other financial entities are required to hold against their deposit liabilities, which is crucial for ensuring liquidity and stability within the banking system.

While the other options refer to different aspects of financial regulation, none pertain directly to the primary purpose of Regulation D. Interest rates for loans are typically influenced by market conditions and monetary policy but are not directly set by Regulation D. Limitations on investments (if referring to private placements of securities) are instead covered under a separate set of regulations, such as Regulation D Rule 506. Similarly, the disclosure of financial statements is governed by other regulatory frameworks, including GAAP and SEC requirements, rather than Regulation D. Thus, the focus of Regulation D being on reserve requirements makes it the right choice.