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US HB146
Bill
Status
Introduced
1/3/2025
Primary Sponsor
Warren Davidson
Click for details
AI Summary
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Amends Section 19(b)(12) of the Federal Reserve Act to prohibit Federal Reserve banks from paying interest on excess reserves held by depository institutions
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Limits interest payments to only required reserve balances that depository institutions must maintain under existing regulations
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Federal Reserve banks would be explicitly banned from paying earnings on any balances except those specifically authorized for required reserves
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Introduced by Rep. Davidson on January 3, 2025 and referred to the House Committee on Financial Services
Legislative Description
Prohibition on IOER Act of 2025
Finance and financial sector
Last Action
Referred to the House Committee on Financial Services.
1/3/2025
Committee Referrals
Financial Services1/3/2025
Full Bill Text
No bill text available