Parity in Clearing Act

[AI summary unavailable — showing source text] Parity in Clearing Act - Amends the Federal Reserve Act to permit depository institutions (including national banks, federally-insured banks, credit unions, savings or mutual savings banks, and savings and loan associations) to receive for deposit and as deposits any evidences of transaction accounts from other such institutions or from any Federal Reserve bank without regard to any Federal or State law restricting the location or number of such depository institutions.…