What This Bill Does · Plain English
Summary · Congress.gov
Prohibition on IOER Act of 2025 This bill prohibits a Federal Reserve bank from paying interest to a depository institution on reserve balances in excess of minimum requirements.
Action Timeline
2025-01-03
Referred to the House Committee on Financial Services.
2025-01-03
Introduced in House
2025-01-03
Introduced in House
Frequently Asked Questions
Did HR.146 pass?
HR.146 is still alive. Current stage: COMMITTEE. Pass likelihood: 37%.
What does HR.146 do?
Prohibition on IOER Act of 2025 This bill prohibits a Federal Reserve bank from paying interest to a depository institution on reserve balances in excess of minimum requirements.
Who sponsored HR.146?
HR.146 was sponsored by Warren Davidson (R-Ohio).
Full Bill Text
119 HR 146 IH: Prohibition on IOER Act of 2025 U.S. House of Representatives 2025-01-03 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 146 IN THE HOUSE OF REPRESENTATIVES January 3, 2025 Mr. Davidson introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves. 1. Short title This Act may be cited as the Prohibition on IOER Act of 2025 . 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— (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. .
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