HR 4278 · 115th Congress · Finance and Financial Sector
Independence from Credit Policy Act of 2017
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Placed on the Union Calendar, Calendar No. 884.(2019-01-02)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only