A bill to amend the Federal Reserve Act to permit the Federal Reserve Board to allocate credit to national priority needs.
Credit Allocation Incentive Act - Defines, under the Federal Reserve Act, "National Priority Loans and Investments" to include any loan or investment for: (1) useful capital investments; (2) lower middle-income housing; or (3) small businesses.
Permits the requirement of a supplemental reserve by member banks which will not take outstanding National Priority Loans and Investments into consideration in its computation.
Referred to House Committee on Banking and Currency.
Introduced in House
Introduced in House
Referred to House Committee on Banking and Currency.
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