A bill to effectuate the Congressional directive that accounts established under Section 327 of the Garn-St Germain Depository Institutions Act of 1982 be directly equivalent and competitive with money market mutual funds.

Summary

Amends the Federal Reserve Act to permit the payment of interest on reserves held by any bank, savings and loan association, credit union, or mutual savings bank against accounts which are equivalent to and competitive with money market mutual funds under the Garn-St Germain Depository Institutions Act of 1982.

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

Timeline

1. 1 December 1982

   Introduced

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

   Source: IntroReferral

2. 1 December 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 1 December 1982

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 1 December 1982

  Open at official source

Sponsors

• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Sponsor
• · hsba00 · Standing

Related records

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