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Bill: Interest Regulation Act
Details
Submitted by[?]: Free Liberal Party of Likatonia
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: October 4662
Description[?]:
This Act aims to entrust the Central Bank of Likatonia with the duty of regulating long-term interest rates on a federal scale in order to alleviate financial crises or the threats thereof. |
Proposals
Article 1
Proposal[?] to change Policy on the charging and collection of interest on loans
Old value:: The government has no policy on the charging of interest on loans
Current: Banks and financial institutions charge interest on loans and are regulated
Proposed: The central bank determines the policy on charging interest on loans (if one exists)
Article 2
Proposal[?] to change Reserve requirements for bank loans
Old value:: The government takes no stance on reserve requirements for bank loans.
Current: There is a full reserve requirement for bank loans.
Proposed: There is a fractional reserve requirement for bank loans.
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
Vote | Seats | ||||
yes |
Total Seats: 487 | ||||
no | Total Seats: 188 | ||||
abstain |
Total Seats: 0 |
Random fact: Particracy does not allow real-life brand names (eg. Coca Cola, McDonalds, Microsoft). However, in the case of military equipment brand names it is permitted to use simple number-letter combinations (eg. T-90 and F-22) borrowed from real life, and also simple generic names, like those of animals (eg. Leopard and Jaguar). |
Random quote: "Communism, like any other revealed religion, is largely made up of prophecies." - H. L. Mencken |