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United States · Bill · S

S. 2526 (97th)

Low Interest Rate Act of 1982

openUnited States· United States Congress· EN

Introduced

13 May 1982

Last action

2 August 1982 · Committee

Status

Committee on Banking received executive comment from Federal Home Loan Bank Board. Generally unfavorable.

Sponsors

Sen. Cranston, Alan [D-CA], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Burdick, Quentin N. [D-ND], Sen. Baucus, Max [D-MT], Sen. Ford, Wendell H. [D-KY], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Huddleston, Walter (Dee) [D-KY], Sen. Leahy, Patrick J. [D-VT]

Subjects

Discovery layer

Source updated

29 August 2025

Official sourceView documentsShare

Summary

Low Interest Rate Act of 1982 - Amends the Credit Control Act to repeal the provision of such Act which would terminate credit control authority on June 30, 1982. Makes such authority permanent. Permits the President to authorize the Board of Governors of the Federal Reserve System to regulate and control any or all extensions of credit whenever necessary or appropriate to reduce high levels of unemployment in any sector of the economy, or to prevent or control inflation or recession. Permits the Board, after receiving such presidential authorization, to prescribe limitations with respect to credit for nonproductive purposes. Amends the Credit Control Act to change the title of such Act to the Capitol Availability Act.

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

Timeline

  1. 13 May 1982

    Introduced

    Read twice and referred to the Committee on Banking.

    Source: IntroReferral

  2. 13 May 1982

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 2 July 1982

    Committee

    Committee on Banking requested executive comment from Federal Reserve System; Federal Home Loan Bank Board; Comptroller of the Currency; Treasury Department.

    Source: Committee

  4. 2 August 1982

    Committee

    Committee on Banking received executive comment from Federal Home Loan Bank Board. Generally unfavorable.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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