Federal Reserve Reform Act of 1993

Summary

Federal Reserve Reform Act of 1993 - Amends the Federal Reserve Act to require the Federal Open Market Committee (the Committee) to consult with the Secretary of the Treasury, the Director of the Office of Management and Budget, and the chairman of the Council of Economic Advisers before the Federal Reserve Board submits to the Congress certain mandated reports. Changes from August to January the calendar year expiration date of the term of the Chairman of the Federal Reserve. Mandates immediate public disclosure by the Committee of each change in intermediate monetary policy targets (monetary and credit aggregates, prices, interest rates, or bank reserves) which it adopts. Permits the Comptroller General to audit monetary policy deliberations, decisions, or actions, including transactions made under the Committee's direction. Requires the Board to submit annually to the President its estimated receipts and proposed expenditures for the current year, and the next two succeeding years (including those of the Federal Reserve Banks).

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Timeline

1. 26 January 1993

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 26 January 1993

   Introduced

   Sponsor introductory remarks on measure. (CR S730)

   Source: IntroReferral

3. 26 January 1993

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 10 February 1994

   Introduced

   Sponsor introductory remarks on measure. (CR S1350-1351)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 January 1993 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 January 1993

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 January 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 January 1993

  Open at official source

Sponsors

• Rep. Dorgan, Byron L. [D-ND-At Large] · D · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Cosponsor
• Sen. Reid, Harry [D-NV] · D · Cosponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.