A bill to reserve the income on depository institution reserves at the Federal Reserve Banks to protect and enhance the deposit insurance system.

Summary

Amends the Federal Reserve Act to require Federal Reserve Banks to pay the Federal Reserve Board (the Board) an amount equal to their imputed earnings on reserves each calendar quarter. Requires the Board to pay promptly to the Bank Insurance Fund, the Savings Association Insurance Fund and the Credit Union Insurance Fund that portion of the assessment attributable to reserves held at Federal Reserve Banks for that quarter by the members of each fund as calculated by the Board.

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

Timeline

1. 19 September 1990

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 19 September 1990

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 September 1990

  Open at official source

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Sponsors

• Sen. Dixon, Alan J. [D-IL] · D · Sponsor
• Sen. Graham, Bob [D-FL] · D · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• · ssbk00 · Standing

Related records

• related to → To use the income on depository institution reserves at the Federal Reserve banks to protect and enhance the deposit insurance system.