S 1121
100th Congress
Senate
Finance and Financial Sector
Advisory bodies
Auditing
Economics and Public Finance
Federal Reserve System
Federal advisory bodies
Government Operations and Politics
Productivity in government
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.
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
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Banking.
Committees of jurisdiction
1