HR 3135 · 94th Congress · Mortgages

A bill to amend the Federal Reserve Act to establish special asset reserve requirements for all financial institutions to maintain a fund from which moneys may be drawn for the purpose of purchasing mortgages.

Introduced 1975-02-13· Sponsored by Rep. Rees, Thomas M. [D-CA-23]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking, Currency and Housing.(1975-02-13)

Plain Language Summary

[AI summary unavailable — showing source text] Establishes, under the Federal Reserve Act, special asset reserve requirements for all financial institutions. States that such reserves are to be used to maintain a fund from which moneys can be drawn for the purchase of mortgages.…

Summarized by Claude AI · Non-partisan · For informational purposes only