To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HAE62E34ACC614CDE8C3B5E222DAE05E2: 1. Short title This Act may be cited as the Prohibition on IOER Act of 2024.
- Section HF24A8BE45A464E84AE7DCDE203B96AD4: 2. Prohibition on payment of earnings on surplus reserves Section 19(b)(12) of the Federal Reserve Act (12 U.S.C. 461(b)(12)) is amended— in the heading, by...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance
Primary Purpose
This bill, To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Legislative Progress
IntroducedMr. Davidson introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology