Section 1 Short title
This Act may be cited as the “End the Fed’s Big Bank Bailout Act”.
End the Fed’s Big Bank Bailout Act
A BILL
To amend the Federal Reserve Act to prohibit earnings on balances maintained at a Federal Reserve bank by or on behalf of a depository institution.
Sec. 2 Prohibition on earnings
Section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)) is amended by striking paragraph (12) and inserting the following:
“(12) Earnings on balances—No Federal Reserve bank may pay earnings on balances maintained at a Federal Reserve bank by or on behalf of a depository institution.”