A bill to extend certain laws relating to the payment of interest on time and savings deposits, to prohibit depository institutions from permitting negotiable orders of withdrawal to be made with respect to any deposit or account on which any interest or dividends is paid.

Summary

Extends until 1975 the authority of the Secretary of the Treasury, the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, and the Federal Home Loan Bank to regulate the interest rates on deposits and share accounts in financial institutions. (Amends 12 U.S.C. 461 nt) Prohibits depository institutions from permitting negotiable orders of withdrawal to be made with respect to any deposit or account on which interest or dividends are paid. Extends the authority of the Federal Deposit Insurance Corporation to include interest and dividends paid on deposits by noninsured banks. (Amends 12 U.S.C. 1828(g))

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 15 March 1973

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.