A bill to extend the authority for the flexible regulation of interest rates on deposits and accounts in depository institutions.

[AI summary unavailable — showing source text] Title I: Extends, for three months, the effectiveness of provisions authorizing, among other things, more flexible regulation of maximum interest rates and open market operations in agency issues by Federal Reserve Banks. Title II: Exempts depository institutions situated in New York, New Jersey, and Pennsylvania from the prohibition against offering interest or dividend-paying accounts, from which the owner may make withdrawals by negotiable or transferable instruments for the purpose of making transfers to third parties. Title III: Amends the Federal Reserve Act to extend for two years: (1) the limitation on the aggregate amount of specified obligations of the United States which may be purchased or sold; and (2) the period during which direct purchases of United States obligations may be made. Title IV: Amends the Federal Credit Union Act to remove specified requirements which must be met by State credit unions as a condition for insurance of members' accounts. Empowers a Federal credit union to make loans and extend credit to members, other credit unions or financial organizations. Permits credit unions to make loans to members in accordance with the following: (1) loans shall …