A bill to amend the Federal Reserve Act to authorize the payment of interest on reserve balances.
Interest on Reserves Act - Amends the Federal Reserve Act to authorize the payment of interest on the required reserve balances of member banks held by Federal Reserve Banks.
Sets forth a formula for determining the maximum amount of such interest to be paid in any one year.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
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