A bill to require the payment of interest on certain funds of the United States held on deposit in commercial banks, to provide for reimbursement of commercial banks for services performed for the United States.

referredUnited States· United States Congress· EN

Introduced

8 February 1977

Last action

—

Status

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

Summary

Amends the Federal Reserve Act to require the payment of interest on Treasury Department funds held on deposit in commercial banks. Amends the Federal Deposit Insurance Act to direct the Board of Directors of the Federal Deposit Insurance Corporation to issue regulations permitting payment of interest on public funds demand deposits in insured banks which are not members of the Federal Reserve System. Authorizes the Secretary of the Treasury to reimburse commercial banks for services performed for the United States.

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Votes

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 8 February 1977
Open at official source

Related records

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/3253
Open data entity: https://api.congress.gov/v3/bill/95/hr/3253