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Bill > S16


US S16

US S16
Federal Reserve Transparency Act of 2017


summary

Introduced
01/03/2017
In Committee
01/03/2017
Crossed Over
Passed
Dead
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)

Last Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 01/03/2017)

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