A joint resolution to create a Committee on Interest Rates and the Availability of Credit.

Directs the President to appoint a Committee on Interest Rates and Availability of Credit.

Directs such committee to publish no later than October 31, 1981, voluntary guidelines for the Nation's lending institutions, designed to assure an adequate flow of credit to small borrowers at affordable prices appropriate to the various regions of the country and type of borrower.

Directs the committee to publish voluntary guidelines limiting the large-scale diversion of credit to nonproductive uses, such as conglomerate takeovers and mergers.

Sets forth the membership of such committee.

Directs the committee to report to Congress no later than January 1, 1982, and on a semiannual basis thereafter, concerning the effect of the voluntary guidelines. Provides that the committee will continue in existence for five years from the date of enactment, unless terminated or extended by an Act of Congress.