S.513 - Federal Reserve Transparency Act111th Congress (2009-2010)
|Sponsor:||Sen. Sanders, Bernard [I-VT] (Introduced 03/03/2009)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||03/03/2009 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: S.513 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in Senate (03/03/2009)
Federal Reserve Transparency Act - Directs the Board of Governors of the Federal Reserve System to publish on its website, with respect to all loans and other financial assistance it has provided since March 24, 2008: (1) the identity of each business, individual, or entity to which the Board has provided such assistance; (2) the type of financial assistance provided; (3) its value or amount; (4) the date on which it was provided; (5) the specific terms of any repayment expected, including the repayment time period, interest charges, collateral, limitations on executive compensation or dividends, and other material terms; and (6) the specific rationale for providing assistance in each instance.
Requires the Board to update such information at least once every 30 days.