Summary: H.R.4278 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.4278. Bill summaries are authored by CRS.

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Introduced in House (11/07/2017)

Independence from Credit Policy Act of 2017

This bill limits the types of securities that the Federal Reserve Board (FRB) may acquire in the open market to: (1) gold stock; (2) currency; and (3) direct obligations of the United States, foreign banks, or the International Monetary Fund. The FRB must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.