A joint resolution to provide for an extension of certain laws relating to the payment of interest on time and savings deposits, and for other purposes.
Public Law 93-123 · S.J.Res. 160 · 93rd Congress · began in the Senate
Signed by Richard Nixon (R) on Oct 15, 1973 · Finance and Financial Sector
Sponsor: Sen. John Tower (R-TX)
Cosponsors (7): Sen. John Sparkman, Sen. Alan Cranston,
Passage votes
- HouseMethod not stated
- SenateMethod not stated
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Requires the Secretary of the Treasury, the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, and the Federal Home Loan Bank Board to take action to limit the rates of interest or dividends which may be paid on time deposits of less than $100,000 by institutions regulated by them.
Committees
The record shows no committee referral for this bill.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 6 actions.
- Oct 15, 1973Became lawBecame law · Signed by President.
- PresidentPresident · Public law 93-123.
- Oct 3, 1973PresidentPresident · Measure presented to President.
- Oct 2, 1973FloorFloor · Measure passed House.
- Oct 1, 1973FloorFloor · Measure passed Senate.
- IntroducedIntroduced · Introduced in the Senate
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.