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S. 1121 100th Congress Senate

A bill to require the General Accounting Office to audit the Board of Governors of the Federal Reserve System, the Federal Advisory Council, the Federal Open Market Committee, and Federal Reserve…

Official title: A bill to require the General Accounting Office to audit the Board of Governors of the Federal Reserve System, the Federal Advisory Council, the Federal Open M… Show full official titleShow less

Official title: A bill to require the General Accounting Office to audit the Board of Governors of the Federal Reserve System, the Federal Advisory Council, the Federal Open Market Committee, and Federal Reserve banks and their branches.

Introduced: May 1, 1987 Introduced by: Chuck Grassley Republican · Iowa See on congress.gov
Finance and Financial Sector Advisory bodiesAuditingEconomics and Public FinanceFederal Reserve System
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Federal advisory bodiesGovernment Operations and PoliticsProductivity in government
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This bill died when the 100th Congress ended
It never became law before the 100th Congress (1987–1988) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 1, 1987
Read twice and referred to the Committee on Banking.
May 1, 1987
Introduced in Senate
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 Latest action May 1, 1987

Read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service

Directs the Comptroller General to audit, each fiscal year, the Federal Reserve Board, the Federal Advisory Council, the Federal Open Market Committee, and all Federal Reserve banks and their branches.

Requires the Comptroller General, within six months after the end of each fiscal year, to report to the Congress on the results of such audit. Requires the report to include recommendations for improving efficiency in the entities audited and to include any undertaking which, in the opinion of the Comptroller General, has been carried on without authority of law.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1121: A bill to require the General Accounting Office to audit the Board of Governors of the Federal Reserve System, the Federal Advisory Council, the Federal Open Market Committee, and Federal Reserve banks and their branches.. 100th Congress. Open America. https://openamerica.io/bill/100-S-1121/
MLA
"S. 1121: A bill to require the General Accounting Office to audit the Board of Governors of the Federal Reserve System, the Federal Advisory Council, the Federal Open Market Committee, and Federal Reserve banks and their branches.." 100th Congress, 2026, Open America, https://openamerica.io/bill/100-S-1121/.
Bluebook (legal)
S. 1121, 100th Cong. (2026), https://openamerica.io/bill/100-S-1121/.
Markdown link
[S. 1121: A bill to require the General Accounting Office to audit the Board of Governors of the Federal Reserve System, the Federal Advisory Council, the Federal Open Market Committee, and Federal Reserve banks and their branches.](https://openamerica.io/bill/100-S-1121/)
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