H.R.949 - Federal Reserve System Accountability Act of 1995104th Congress (1995-1996)
|Sponsor:||Rep. Bunning, Jim [R-KY-4] (Introduced 02/15/1995)|
|Committees:||House - Banking and Financial Services|
|Latest Action:||02/24/1995 Referred to the Subcommittee on Domestic and International Monetary Policy.|
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: H.R.949 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in House (02/15/1995)
Federal Reserve System Accountability Act of 1995 - Amends Federal law to revise the auditing guidelines for the Federal Reserve System and to mandate an annual financial and managerial audit of the System.
Amends the Government in the Sunshine Act to include the Board of Governors of the Federal Reserve System (the Board) within its guidelines on open meetings.
Amends the Federal Reserve Act to declare that the Board's primary mission is to regulate the money supply so as to maintain a stable currency with minimal fluctuation in interest rates.
Amends the Bank Holding Company Act of 1956 and the Federal Deposit Insurance Act to transfer administration of the Bank Holding Company Act of 1956 from the Board to the Federal Deposit Insurance Corporation.