Reserve Requirements Act

Summary

Reserve Requirements Act - Requires, under the Federal Reserve Act, that every institution receiving demand deposits maintain reserves as determined by the Board of Governors of the Federal Reserve System in a ratio of not less than five percent nor greater that 20 percent of such deposits. Requires that every institution which allows withdrawals from interest- bearing accounts (known as negotiated order of withdrawal accounts) maintain reserves against such accounts in a ratio of not less than 3 nor more than 12 percent of such deposits. Requires institutions which receive time and savings deposits to maintain reserves in a ratio not less than one-half of one percent nor more than 8 percent of such deposits. Authorizes the Federal Reserve Banks to extend credit to nonmember institutions.

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 · 7 July 1975

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.