Federal Reserve Reform Act of 2018

Summary

Federal Reserve Reform Act of 2018 This bill revises provisions related to the authority of the Federal Reserve Board to set monetary policy. Among other things, the bill generally limits the board's emergency-lending authority; subjects the nonmonetary policy-related administrative costs of the board to the congressional appropriations process; limits the types of securities that the board may acquire in the open market to gold stock, currency, and direct obligations of the United States, foreign banks, or the International Monetary Fund; requires the board to exchange certain assets with the Department of the Treasury for direct U.S. obligations of equivalent value; requires the Federal Open Market Committee (FOMC) to set the interest rates on balances maintained at Federal Reserve banks by depository institutions; revises the membership of the FOMC; and requires the FOMC to annually publish its monetary policy strategy;

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Timeline

1. 7 September 2018

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 7 September 2018

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 September 2018

   Introduced

   Introduced in House

   Source: IntroReferral

4. 13 September 2018

   Vote

   Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 21.

   Source: Committee

5. 13 September 2018

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

6. 2 January 2019

   Committee

   Committee on Rules discharged.

   Source: Committee

7. 2 January 2019

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1116, Part I.

   Source: Committee

8. 2 January 2019

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1116, Part I.

   Source: Committee

9. 2 January 2019

   Calendars

   Placed on the Union Calendar, Calendar No. 883.

   Source: Calendars

10. 2 January 2019

    Discharge

    Committee on Rules discharged.

    Source: Discharge

Votes

No vote records are attached yet.

Versions

• Reported in House · 2 January 2019 · Official file
• Introduced in House · 7 September 2018 · Official file

Documents

5 official files

• Reported in House (text)

  Reported in House · EN · 2 January 2019

  ViewDownloadOpen at official source

• Reported in House (PDF)

  Reported in House · EN · 2 January 2019

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN · 7 September 2018

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 September 2018

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 September 2018

  Open at official source

Sponsors

• Andy Barr · R · Sponsor
• Frank Lucas · R · Sponsor
• Alexander Mooney · R · Sponsor
• Rep. Tenney, Claudia [R-NY-24] · R · Sponsor
• Warren Davidson · R · Sponsor
• · hsru00 · Standing
• · hsba00 · Standing

Related records

• related to → FFOCUS Act of 2017.
• related to → Monetary Policy Transparency and Accountability Act of 2017
• related to → Independence from Credit Policy Act of 2017
• related to → Congressional Accountability for Emergency Lending Act of 2017
• related to → Federal Reserve Supervision Testimony Clarification Act
• related to → Federal Reserve Regulatory Oversight Act
• related to → Federal Reserve Blackout Improvement Act
• related to → Fully Informed District Bank Act

Showing 8 of 11 related records.