A bill to require the payment of interest on certain funds of the United States held on deposit in commercial banks, to provide for reimbursement of commercial banks for services performed for the United States.

Amends the Federal Reserve Act to require the payment of interest on Treasury Department funds held on deposit in commercial banks.

Amends the Federal Deposit Insurance Act to direct the Board of Directors of the Federal Deposit Insurance Corporation to issue regulations permitting payment of interest on public funds demand deposits in insured banks which are not members of the Federal Reserve System.

Authorizes the Secretary of the Treasury to reimburse commercial banks for services performed for the United States.