To direct the Board of Governors of the Federal Reserve System to revise the transfers and withdrawals limit with respect to savings deposits and transaction accounts, and for other purposes.

H.R. 5460 · 116th Congress · Dec 17, 2019 · Lineage

A BILL

Section 1 Revision of transfers and withdrawals limit

Not later than 90 days after the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall modify title 12, Code of Federal Regulations—

(1)

to increase the transfers and withdrawals limitation under section 204.2(d)(2) thereof (defining savings deposit) from six to 30; and

(2)

to increase the withdrawal threshold under section 204.2(e)(4) thereof (defining transaction account) from six to 30.

To direct the Board of Governors of the Federal Reserve System to revise the transfers and withdrawals limit with respect to savings deposits and transaction accounts, and for other purposes.

Section 1 Revision of transfers and withdrawals limit

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