Prohibition on IOER Act of 2024

Bill Number

HR 7562

Introduced

Mar 6, 2024

Latest Action

Referred to the House Committee on Financial Services.

Sponsor

Cosponsors

Topics

Banking and financial institutions regulation Federal Reserve System Finance and Financial Sector Financial services and investments Interest, dividends, interest rates

Full Text

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Summary

Prohibition on IOER Act of 2024

This bill prohibits a Federal Reserve bank from paying interest to a depository institution on reserve balances in excess of minimum requirements.

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