H.R. 2917 (103rd): To reform the Federal Reserve System.

Introduced:
Aug 06, 1993 (103rd Congress, 1993–1994)
Sponsor:
Rep. Lucien Blackwell [D-PA2]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on August 6, 1993, in a previous session of Congress, but was not enacted.

Progress
Introduced Aug 06, 1993
Cosponsors
none
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Aug 06, 1993.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

8/6/1993--Introduced.
Amends the Federal Reserve Act to provide that the President shall appoint the five Federal Reserve Bank representatives who sit on the Federal Open Market Committee after consultation with, and consideration of, candidates selected by the Federal Advisory Council. (Currently such representatives are elected by the boards of directors of selected Federal Reserve Banks.) Requires the Federal Open Market Committee to meet and consult, on a quarterly basis, with the Secretary of the Treasury, the Director of the Office of Management and Budget, and the Chairman of the Council of Economic Advisers. Provides that the terms of office of the Chairman and Vice-chairman of the Board of Governors of the Federal Reserve System (the Board) shall coincide with the term of office of the President. Amends Federal finance law to require the Board to submit annually to the President, for subsequent submission to the Congress, its estimated receipts and proposed expenditures for the current year, and for the next two succeeding years (including those of the Federal Reserve Banks).

House Republican Conference Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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