Comments of the Council on Wage and Price Stability Before the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System: Interest on Deposits Pooling of Funds

by Michael H. Moscow on May 10, 1976
by Michael H. Moscow, Thomas M. Lenard, Peter H. Lowry and James C. Miller

The Council on Wage and Price Stability (“Council “) hereby submits its comments on the proposals made by the Federal Deposit Insurance Corporation (“FDIC”) and the Board of Governors of the Federal Reserve System (“FRB”) which would restrict payment of negotiated rates of interest on pooled time deposits of $100,000 or more. (See 41 FR 9896 for the FDIC proposal and 41 FR 10917 for the FRB proposal.) The proposals (hereafter referred to as the “FDIC-FRB proposal” or simply the “proposal”) would, respectively, amend Part 329 of the FDIC Rules and Regulations and the FRB’s Regulation O…

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