Amends the Federal Reserve Act to include among the types of collateral security which may be required (to back currency) in a Federal Reserve bank application for Federal Reserve notes any acceptances acquired (discount window loans extended) with respect to: (1) emergency advances to groups of or individual member banks; and (2) discounts of agricultural paper.
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Domestic and International Monetary Policy.
Mr. Leach moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H6766-6767)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1094.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6766)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6766)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and read twice and referred to the Committee on Banking.
Senate Committee on Banking discharged by Unanimous Consent.
Senate Committee on Banking discharged by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S14903)
Passed Senate without amendment by Unanimous Consent. (consideration: CR S14903)
Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 106-122.
Became Public Law No: 106-122.
Enacted as Public Law 106-122
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