S.148 - Federal Reserve Transparency Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Paul, Rand [R-KY] (Introduced 01/16/2019)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 01/16/2019 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.148 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (01/16/2019)
Federal Reserve Transparency Act of 2019
This bill establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO).
Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.