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No Interest on Excess Reserves Bill
Recent Bills/No Interest on Excess Reserves Bill

No Interest on Excess Reserves Bill

IntroducedJanuary 3, 2025
Introduced1 year ago
Intro
House
Senate
Pres
Referred to the House Committee on Financial Services.
More:Recently Introduced BillsEconomyHouse Bills
Why This Matters

This bill would make it illegal for Federal reserve banks to pay interest on extra money that banks hold. This change could affect how banks manage their funds and influence the economy.

If you work in banking, this bill could change how your institution manages its reserves.
Who this affects
Banks holding Federal Reserve reserves
What changes is this bill making?
  1. 1This bill stops Federal reserve banks from paying interest on extra reserves.
  2. 2It changes the rules for how banks manage their reserves at the Federal Reserve.
  3. 3The bill aims to prevent banks from earning money on surplus funds.
  4. 4It affects how banks operate and manage their finances.
  5. 5The change could impact the overall economy and banking practices.
Read the detailed summary

Prohibition on IOER Act of 2025This bill prohibits a Federal Reserve bank from paying interest to a depository institution on reserve balances in excess of minimum requirements.

Bill Progress1 of 4
Bills must pass the House, Senate, and be signed by the President to become law.
Intro
House
Senate
Pres
IntroducedCurrentJan 3, 2025

Referred to the House Committee on Financial Services.

Sponsors
See all 22 sponsors
House
Senate
President

The President

Joe Biden
46th President
Awaiting Vote
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