HR 4278
115th Congress
House
Finance and Financial Sector
Currency
Federal Reserve System
Monetary policy
Securities
Independence from Credit Policy Act of 2017
Introduced: November 7, 2017
Introduced by:
Hill, J. French
Republican
· Arkansas
See on congress.gov
Everywhere this bill has been
7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 2, 2019
Placed on the Union Calendar, Calendar No. 884.
Jan 2, 2019
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1117.
Nov 14, 2017
Ordered to be Reported by the Yeas and Nays: 33 - 26.
Nov 14, 2017
Committee Consideration and Mark-up Session Held.
Nov 7, 2017
Referred to the House Committee on Financial Services.
Nov 7, 2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
Nov 7, 2017
Introduced in House
Plain-English 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.
What's happening now
Placed on the Union Calendar, Calendar No. 884.
Committees of jurisdiction
2
Cosponsors
1