summary
Introduced
01/03/2017
01/03/2017
In Committee
01/03/2017
01/03/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Federal Reserve Transparency Act of 2017 This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to: (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.
AI Summary
This bill, the Federal Reserve Transparency Act of 2017, directs the Government Accountability Office (GAO) to complete an audit of the Federal Reserve Board and Federal Reserve banks within 12 months. The bill also allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to international financial transactions, deliberations and decisions on monetary policy matters, transactions made under the direction of the Federal Open Market Committee, and any related discussions or communications among Federal Reserve officials. The bill removes certain limitations on the GAO's ability to audit the Federal Reserve, providing greater transparency into its operations.
Committee Categories
Housing and Urban Affairs
Sponsors (17)
Rand Paul (R)*,
John Barrasso (R),
Roy Blunt (R),
John Boozman (R),
Shelley Moore Capito (R),
Steve Daines (R),
Cory Gardner (R),
Chuck Grassley (R),
Dean Heller (R),
Johnny Isakson (R),
James Lankford (R),
Mike Lee (R),
Rob Portman (R),
Jim Risch (R),
Marco Rubio (R),
Tim Scott (R),
Todd Young (R),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 01/03/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/16/all-info |
| BillText | https://www.congress.gov/115/bills/s16/BILLS-115s16is.pdf |
| Bill | https://www.congress.gov/115/bills/s16/BILLS-115s16is.pdf.pdf |
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