H.R. 4278
IntroducedIndependence from Credit Policy Act of 2017
Latest Action
Placed on the Union Calendar, Calendar No. 884.
1/2/2019 • House
Summary
Independence from Credit Policy Act of 2017
This bill limits the types of securities that the Federal Reserve Board (FRB) may acquire in the open market to: (1) gold stock; (2) currency; and (3) direct obligations of the United States, foreign banks, or the International Monetary Fund. The FRB must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.
Introduced in House • 11/7/2017
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the House
Introduced
November 7, 2017
Committee Review
November 7, 2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law