Bankowość centralna · 15/05/1997

Prohibition Against Payment of Interest on Demand Deposits Repealed

The Federal Reserve Board has amended an interpretation to allow depository institutions to charge interest on demand deposit accounts without violating the Banking Act of 1933, which prohibits interest on such accounts. The new rule permits premiums up to $20 per year, regardless of the account balance or duration, as long as they are not related to the account balance.