The Board would be pleased to work with the Committee and your staffs as you seek to develop and advance meaningful regulatory relief legislation that is consistent with the nation’s public policy objectives. Appendix: Regulatory Relief Proposals Supported by the Board of Governors of the Federal Reserve System 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. 6  BIS Review 47/2005  2.