To prohibit earnings on balances maintained at a Federal Reserve bank by or on behalf of a depository institution.
Sen. Rand Paul (R-KY)Legislative Activity
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Roll call votes on amendments in Senate: Amendment SA 3761, under the order of 10/9/2025, not having achieved 60 votes in the affirmative, not agreed to in Senate by Yea-Nay Vote. 14 - 83. Record Vote Number: 562.
October 9, 2025
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Roll call votes on amendments in Senate: Amendment SA 3761, under the order of 10/9/2025, not having achieved 60 votes in the affirmative, not agreed to in Senate by Yea-Nay Vote. 14 - 83. Record Vote Number: 562.
October 9, 2025
Senate amendment not agreed to: Amendment SA 3761, under the order of 10/9/2025, not having achieved 60 votes in the affirmative, not agreed to in Senate by Yea-Nay Vote. 14 - 83. Record Vote Number: 562.
October 9, 2025
Senate amendment proposed (on the floor): Amendment SA 3761 proposed by Senator Paul to Amendment SA 3748.
October 9, 2025
Amendment SA 3761 proposed by Senator Paul to Amendment SA 3748. (consideration: CR S7062-7063)
October 9, 2025
Amendment SA 3761, under the order of 10/9/2025, not having achieved 60 votes in the affirmative, not agreed to in Senate by Yea-Nay Vote. 14 - 83. Record Vote Number: 562.
October 9, 2025
Senate amendment submitted
September 3, 2025
Votes
1 roll call on this amendment
Text
Submitted
SA 3761. Mr. PAUL submitted an amendment intended to be proposed by him to the bill S. 2296, to authorize appropriations for fiscal year 2026 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. PROHIBITION ON EARNINGS AND OVERNIGHT REVERSE REPURCHASE AGREEMENT FACILITIES. (a) Earnings.--Section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)) is amended by striking paragraph (12) and inserting the following: ``(12) Earnings on balances.--No Federal Reserve bank may pay earnings on balances maintained at a Federal Reserve bank by or on behalf of a depository institution.''. (b) Overnight Reverse Repurchase Agreement Facilities.-- Section 14(b)(2) of the Federal Reserve Act (12 U.S.C. 355(2)) is amended-- (1) by striking ``(2) To'' and inserting ``(2)(A) Except as provided in subparagraph (B), to''; and (2) by adding at the end the following: ``(B) No Federal reserve bank may participate in any overnight reverse repurchase agreement facility or enter into any reverse repurchase agreement.''. (c) Effective Date.--This section and the amendments made by this section shall take effect on the date that is 180 days after the date of enactment of this Act. ______