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S 1457 111th Congress Senate Finance and Financial Sector Bank accounts, deposits, capital Business records Congressional oversight Credit and credit markets Federal Reserve System Financial crises and stabilization Financial services and investments Government studies and investigations

Federal Reserve Credit Facility Review Act of 2009

Introduced: July 15, 2009 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 15, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 15, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Federal Reserve Credit Facility Review Act of 2009 - Authorizes the Comptroller General to conduct reviews and onsite examinations of: (1) any credit facility established by the Federal Reserve Board or any federal reserve bank; and (2) such credit facility's establishment as the lender of last resort (including providing credit under enhancements to traditional lending facilities and credit facilities).

Cites the credit facilities to which this Act applies. Grants the Comptroller General access to all records and property of any such credit facility, including its officers, employees, contractors, and other agents and representatives.

Sets forth the powers of the Comptroller to implement this Act.

Requires the Comptroller General to report to Congress on each review conducted.

Terminates such authorization five years after enactment of this Act.

What's happening now July 15, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1