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.

I 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. IN THE HOUSE OF REPRESENTATIVES DECEMBER 17, 2019 Mr. PERRY introduced the following bill; which was referred to the Committee on Financial Services 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 ac- counts, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. REVISION OF TRANSFERS AND WITHDRAWALS 3 LIMIT. 4 Not later than 90 days after the date of the enact- 5 ment of this Act, the Board of Governors of the Federal 6 Reserve System shall modify title 12, Code of Federal 7 Regulations— 8 VerDate Sep 11 2014 01:33 Dec 27, 2019 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H5460.IH H5460 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 5460 IH (1) to increase the transfers and withdrawals 1 limitation under section 204.2(d)(2) thereof (defin- 2 ing savings deposit) from six to 30; and 3 (2) to increase the withdrawal threshold under 4 section 204.2(e)(4) thereof (defining transaction ac- 5 count) from six to 30. 6 Æ VerDate Sep 11 2014 01:33 Dec 27, 2019 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H5460.IH H5460 pamtmann on DSKBC07HB2PROD with BILLS