H. R. 7562 seeks to amend the Federal Reserve Act to stop Federal Reserve banks from paying interest on excess reserve balances held by depository institutions. It specifies that Federal Reserve banks can only pay interest on required reserve balances, as mandated by existing...
The bill wants to change how the Federal Reserve works by saying banks wouldn't get extra money for saving extra cash, only for what they really need.
H. R. 146 seeks to change the Federal Reserve Act by stopping Federal reserve banks from paying interest on extra reserves, which are the surplus funds banks store at the Federal Reserve beyond what they are required to keep. This bill proposes amendments to clarify that...
Imagine a piggy bank where banks keep some of their money for safekeeping. H. R. 146 wants to stop giving banks a reward for putting in extra money beyond what's needed in this piggy bank.
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