A bill to amend section 19(g) of the Federal Reserve Act.

[AI summary unavailable — showing source text] States that in the determination of the amount of any reserve balance, under the Federal Reserve Act, for any type or types of deposits specified by the Federal Reserve Board, there may be deducted, in whole or in part, as the Board may prescribe, any investments in obligations specified by the Board issued by Federal agencies for the purpose of directly or indirectly financing the construction or acquisition of residential real property. (Amends 12 U.S.C. 465)…