H.R. 5775 — To use 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.

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Related Legislation

S. 3073A bill to reserve the income on depository institution reserves at the Federal Reserve Banks to protect and enhance the deposit insurance system.
1990-09-19Read twice and referred to the Committee on Banking.
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Legislative Actions

1990-10-02
Introduced in House
1990-10-02
Introduced in House
1990-10-02
Referred to the House Committee on Banking, Finance + Urban Affrs.
1990-10-15
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

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

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