Volume 79 · 244
Public Law 89–79
To continue the authority of domestic banks to pay interest on time deposits of foreign governments at rates differing from those applicable to domestic depositors.
Approved July 21, 1965
Statutory text
AN ACT
To continue the authority of domestic banks to pay interest on time deposits of foreign governments at rates differing from those applicable to domestic depositors.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the last sentence of the fourteenth paragraph (12 U.S.C. 371b) of section 19 of the
Federal Reserve Act is amended by changing “the effective date of this sentence and ending upon the expiration of three years after such date,” to read “October 15, 1962, and ending on October 15, 1968,”.
Sec. 2.
The last sentence of section 18(g) of the Federal Deposit Insurance Act (12 U.S.C. 1828(g)) is amended by changing “the effective date of this sentence and ending upon the expiration of three years after such date,” to read “October 15, 1962, and ending on October 15, 1968,”.
Approved July 21, 1965.