To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes.
Federal Reserve Transparency Act of 2015
(Sec. 2) This bill directs the Government Accountability Office to: (1) complete, within 12 months of enactment, the required audit of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.
The bill repeals certain limitations placed upon audits of the Federal Reserve Board and Federal Reserve banks concerning: (1) international financial transactions, (2) deliberations or actions on monetary policy matters, (3) transactions made under the direction of the Federal Open Market Committee, or (4) a part of a discussion or communication among members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to these matters.
Motion to proceed to consideration of measure withdrawn in Senate. (consideration: CR S63)
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Placed on the Union Calendar, Calendar No. 693.
Introduced in House
Introduced in House
Referred to the House Committee on Oversight and Government.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 114-692.
Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 114-692.
Placed on the Union Calendar, Calendar No. 536.
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