Interest on bank deposits

§ 5217. Interest on bank deposits (a) Subject to subsection (b) of this section, depository banks shall pay interest on postal savings funds at a rate uniform throughout the United States and territories thereof of not less than 2 1/4 per centum a year. (b) The Board of Trustees may deposit postal savings funds on time in member banks of the Federal Reserve System, subject to the provisions of section 371b of title 12 and of the regulations of the Board of Governors of the Federal Reserve System.