Senate Emergency Economic Stabilization Act of 2008
Title I - Troubled Assets Relief Program
Sec. 128. ACCELERATION OF EFFECTIVE DATE.
Section 203 of the Financial Services Regulatory Relief Act of 2006 (12 U.S.C. 461 note) is amended by striking October 1, 2011 and inserting October 1, 2008.
General Comments on Senate Emergency Economic Stabilization Act of 2008
So effective on passage, banks are not required to keep any reserves on deposits?
Yup, JWin, that's exactly what it says.
How can a bill be effective on Oct 1, 2008 when it wasn't signed until Oct 3, 2008? What's up with that?