To provide for annual payments from the surplus funds of the Federal Reserve System to cover the interest on obligations issued by the Financing Corporation.
Federal Reserve Surplus Act of 1996 - Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System to transfer annually to the Financing Corporation specified amounts from surplus funds of the Federal reserve banks in order to cover the interest on obligations issued by the Financing Corporation.
Read twice and referred to the Committee on Banking.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services. subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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