FOMC Policy Responsibility Act

Bill: 115-hr-4758
Sponsor: full_name: Rep. Tenney, Claudia [R-NY-22]
Introduced: 2018-01-10
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Advisory bodies

Bank accounts, deposits, capital

Federal Reserve System

Federal officials

Interest, dividends, interest rates
Latest action: action_date: 2018-12-12
text: Placed on the Union Calendar, Calendar No. 837.

Summaries:
action_date: 2018-01-10
action_desc: Introduced in House
text: <p><b>FOMC Policy Responsibility Act</b></p> <p>This bill amends the Federal Reserve Act to require the Federal Open Market Committee to&nbsp;set the&nbsp;interest rates on balances maintained at Federal Reserve banks by depository institutions. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 4758 IN THE HOUSE OF REPRESENTATIVES January 10, 2018 Ms. Tenney introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to require the Federal Open Market Committee to establish interest rates on balances maintained at a Federal Reserve Bank by depository institutions.

1. Short title This Act may be cited as the FOMC Policy Responsibility Act . 2. Interest rates on balances maintained at a Federal Reserve Bank by depository institutions established by Federal Open Market Committee Subparagraph (A) of section 19(b)(12) of the Federal Reserve Act ( 12 U.S.C. 461(b)(12)(A) ) is amended by inserting established by the Federal Open Market Committee after rate or rates .

tv_txt: IB Union Calendar No. 837 115th CONGRESS 2d Session H. R. 4758 [Report No. 115–1078] IN THE HOUSE OF REPRESENTATIVES January 10, 2018 Ms. Tenney introduced the following bill; which was referred to the Committee on Financial Services December 12, 2018 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To amend the Federal Reserve Act to require the Federal Open Market Committee to establish interest rates on balances maintained at a Federal Reserve Bank by depository institutions.

1. Short title This Act may be cited as the FOMC Policy Responsibility Act . 2. Interest rates on balances maintained at a Federal Reserve Bank by depository institutions established by Federal Open Market Committee Subparagraph (A) of section 19(b)(12) of the Federal Reserve Act ( 12 U.S.C. 461(b)(12)(A) ) is amended by inserting established by the Federal Open Market Committee after rate or rates .

December 12, 2018 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed