H.R.24 - Federal Reserve Transparency Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Massie, Thomas [R-KY-4] (Introduced 01/06/2015)|
|Committees:||House - Oversight and Government Reform|
|Committee Reports:||H. Rept. 114-692|
|Latest Action:||07/14/2016 Placed on the Union Calendar, Calendar No. 536. (All Actions)|
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Summary: H.R.24 — 114th Congress (2015-2016)All Information (Except Text)
Reported to House with amendment(s) (07/14/2016)
Federal Reserve Transparency Act of 2015
(Sec. 2) This bill directs the Government Accountability Office to: (1) complete, within 12 months of enactment, the required audit of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.
The bill repeals certain limitations placed upon audits of the Federal Reserve Board and Federal Reserve banks concerning: (1) international financial transactions, (2) deliberations or actions on monetary policy matters, (3) transactions made under the direction of the Federal Open Market Committee, or (4) a part of a discussion or communication among members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to these matters.