[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5460 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 5460

   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.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 17, 2019

  Mr. Perry introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
   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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

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.
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