[LAW-LIB:54995] Maximum rate of interest payable to passbook

From: Sandra D. Dunbar (sdunbar@hrva.com)
Date: Wed Mar 12 2008 - 14:18:27 PDT

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    Good afternoon,
     
    I've learned quite a bit about Regulation Q and the Glass-Steagall Act, but haven't found the answer to my attorney's question:
     
    What is (or was under the last authority) the maximum rate of interest payable by the Federal Reserve Bank member banks on passbook savings accounts as published in Regulation Q or its successor. It looks like the maximum regulation went away in the early 80s, but he'd like to know what it would have been at that time--and of course he'd like supporting documentation.
     
    I don't have access to historic CFR (beyond what is available online--and it doesn't go back far enough).
     
    Any thoughts?
     
    Thank you,
     
    Sandy
     
     
    Sandra D. Dunbar, MLIS
    Firm Librarian
    Heyl, Royster, Voelker & Allen
    124 S.W. Adams St., Suite 600
    Peoria, IL 61602-1392
    sdunbar@hrva.com
    309-676-0400 x281

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