A bill to extend the authority for the flexible regulation of interest rates on deposits and accounts in depository institutions, to eliminate the prohibition on depository institutions situated in New York and New Jersey from offering negotiable order of withdrawal accounts, and Federal chartering of mutual savings banks.

[AI summary unavailable — showing source text] Title I: Flexible Interest Rate Controls - Extends for three months the authority for the regulation of interest rates on deposits and accounts in depository institutions. Title II: Negotiable order of Withdrawal Accounts - Eliminates the prohibition on depository institutions situated in New York and New Jersey from offering negotiable order of withdrawal accounts. Title III: Chartering of Mutual Savings Banks - Amends the Home Owners' Loan Act to authorize the Federal Home Loan Bank Board to provide for the organization, operation, and regulation of associations which may be known as Federal Savings and Loan Associations of Federal Savings Banks. Allows for the chartering of such associations and permits them to offer checking accounts. Amends the Federal Deposit Insurance Act to provide that whenever a State-chartered mutual savings bank which is insured by the Federal Deposit Insurance Corporation is converted into a Federal savings bank, the Federal Deposit Insurance Corporation shall calculate the amount in its capital account attributable to such mutual savings bank and shall transfer to each Federal Savings Bank the amount calculated in accordance with this Act. Requires th…