The Board would be pleased to work with the Subcommittee, the full Committee, and their staffs as you move forward in developing and considering regulatory relief legislation. Appendix: Regulatory Relief Proposals Supported by the Board of Governors of the Federal Reserve System1 1.
Authorize the Federal Reserve to pay interest on balances held at Reserve Banks* Amendment gives the Federal Reserve explicit authority to pay interest on balances held by depository institutions at the Federal Reserve Banks. 1  Items identified with an asterisk (*) were included in H.R. 1375, the Financial Services Regulatory Relief Act of 2004, as passed by the House of Representatives.