Monetary Policy Reorganization Act

Summary

Monetary Policy Reorganization Act - Repeals the Federal Reserve Act. Transfers the functions carried out under such Act to the Department of the Treasury. Establishes a Deputy Secretary for Monetary Affairs to administer those functions. Requires the Deputy Secretary to dispose of all the assets under the control of the Federal Reserve System within 180 days of the enactment of this Act except for those assets needed for check clearing or other services provided directly to U.S. financial institutions or to carry out U.S. monetary policy. Requires the proceeds from the sale of such assets to be paid into the Treasury as miscellaneous receipts. Creates a Monetary Policy Advisory Council to advise the Deputy Secretary on monetary policy.

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1 official file

• Introduced in House

  summary · EN · 6 January 1983

  Open at official source

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