To direct the Board of Governors of the Federal Reserve System to establish and maintain a permanent emergency lending program to provide member banks and other depository institutions with short-term liquidity against long-term assets.
Emergency Liquidity Act of 2023
This bill requires the Board of Governors of the Federal Reserve System to establish and maintain a permanent emergency lending program through which a Federal reserve bank may provide short-term liquidity to member banks or other depository institutions that pledge collateral eligible for purchase by the Federal reserve banks in open market operations.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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