H.R.17658 - Credit Allocation Incentive Act93rd Congress (1973-1974)
|Sponsor:||Rep. Drinan, Robert F. [D-MA-4] (Introduced 12/18/1974)|
|Committees:||House - Banking and Currency|
|Latest Action:||House - 12/18/1974 Referred to House Committee on Banking and Currency. (All Actions)|
This bill has the status Introduced
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Summary: H.R.17658 — 93rd Congress (1973-1974)All Information (Except Text)
Introduced in House (12/18/1974)
Credit Allocation Incentive Act - Defines, under the Federal Reserve Act, "National Priority Loans and Investments" to include any loan or investment for: (1) useful capital investments; (2) lower middle-income housing; or (3) small businesses.
Permits the requirement of a supplemental reserve by member banks which will not take outstanding National Priority Loans and Investments into consideration in its computation.