Federal Reserve Membership Act

Summary

Federal Reserve Membership Act - Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System to prepare and publish a schedule of fees for its services and a set of pricing principles no later than July 1, 1979, and to put a fee schedule into effect no later than July 1, 1980. Directs the Board to pay interest on those reserves which member banks are required to maintain at a rate not in excess of the rate paid on United States Treasury bills with maturities of three months. Requires that the Board prepare a study on the feasibility and impact of permitting member banks to invest a percentage of their required reserves in United States Treasury securities.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 20 April 1978

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 20 April 1978

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 April 1978

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 20 April 1978

  Open at official source

Sponsors

• Rep. Stanton, J. William [R-OH-11] · R · Sponsor
• · hsba00 · Standing

Related records

• related to ← Federal Reserve Membership Act