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H.R. 146IntroducedHouse · nowSenatePresidentLawIn committee
Sec. 2 · H.R. 146

Prohibition on payment of earnings on surplus reserves

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Section 19(b)(12) of the Federal Reserve Act (12 U.S.C. 461(b)(12)) is amended— (1) in the heading, by inserting required reserve before balances; (2) in subparagraph (A), by inserting after Balances the following: of reserves required to be maintained by a depository institution under paragraph (2) that are; (3) by redesignating subparagraph (C) as subparagraph (D); and (4) by inserting after subparagraph (B) the following: (C) Prohibition on other earnings A Federal reserve bank may not pay earnings on balances maintained at a Federal reserve bank by or on behalf of a depository institution except as provided under this paragraph..