Federal Reserve Requirements Act

[AI summary unavailable — showing source text] Federal Reserve Requirements Act - Title I: Reserve Requirements of Member Banks and Other Depository Institutions - Amends the Federal Reserve Act to make transaction accounts at all federally insured depository institutions subject to reserve requirements set by the Federal Reserve. Defines "transaction account" as a deposit or account on which the depository or account holder may make withdrawals by negotiable or transferable instrument for the purpose of making payments to third persons. Imposes reserve requirements on demand deposits in every depository institution at a rate between seven and 22 percent as determined by the Board. Eliminates the use of different ratios for member banks not in reserve cities. Requires all depository institutions to maintain reserves against all other transaction accounts at ratios of three to 12 percent as determined by the Board. Requires every member bank to maintain reserves against its time and savings deposits, other than negotiable order of withdrawal accounts at ratios between one-half and ten percent. Exempts $5,000,000 of the transaction accounts of a depository institution from such reserve requirements. Authorizes the Board to impose…