To amend the Federal Reserve Act to require the Federal Open Market Committee to establish interest rates on balances maintained at a Federal Reserve Bank by depository institutions.
FOMC Policy Responsibility Act
This bill amends the Federal Reserve Act to require the Federal Open Market Committee to set the interest rates on balances maintained at Federal Reserve banks by depository institutions.
Placed on the Union Calendar, Calendar No. 883.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
Introduced in House
Introduced in House
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by Voice Vote.
Reported by the Committee on Financial Services. H. Rept. 115-1078.
Reported by the Committee on Financial Services. H. Rept. 115-1078.
Placed on the Union Calendar, Calendar No. 837.
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