HR 13477 · 95th Congress · Finance and Financial Sector

Interest on Reserves Act

Introduced 1978-07-14· Sponsored by Rep. Reuss, Henry S. [D-WI-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking, Finance and Urban Affairs.(1978-07-14)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

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