H.R. 888 (104th): Federal Reserve Audit and Accountability Act

Introduced:
Feb 10, 1995 (104th Congress, 1995–1996)
Sponsor:
Rep. Henry González [D-TX20]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 1160 (105th) on Mar 20, 1997.

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 February 10, 1995, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 10, 1995
Cosponsors
14 cosponsors (13D, 1I) (show)
Committees

House Financial Services

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

Full Title

To promote accountability and the public interest in the operation of the Federal Reserve System, and for other purposes.

Summary

No summaries available.

Text

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Last updated Feb 10, 1995.
9 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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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.

2/10/1995--Introduced.
Federal Reserve Audit and Accountability Act - Amends the Federal Reserve Act to declare that the president and first vice-president of each Federal reserve bank shall be appointed by the President, with the consent of the Senate. (Currently such appointment authority is exercised by each Federal reserve bank's board of directors.) Amends Federal law to remove specified limitations placed upon General Accounting Office audits of the Federal Reserve Board and Federal reserve banks. Requires the Board of Governors of the Federal Reserve System and all Federal reserve banks to transmit their estimated receipts and proposed expenditures to the Congress during the first 15 days of each regular session. Mandates prompt public disclosure of Federal Open Market Committee meetings and actions, including policy actions and prior transcripts. Directs the Comptroller General to study and report to the Congress on the feasibility of privatizing the Federal Reserve payment system.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

Other Citations

  • 41 U.S.C. Chapter 19