HR 8984 · 116th Congress · Finance and Financial Sector

Independence from Credit Policy Act of 2020

Introduced 2020-12-16· Sponsored by Rep. Hill, J. French [R-AR-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2020-12-16)

Plain Language Summary

[AI summary unavailable — showing source text] Independence from Credit Policy Act of 2020 This bill limits the types of securities that the Federal Reserve Board may acquire in the open market to gold stock; currency; and direct obligations of the United States, foreign banks, or the International Monetary Fund. The board 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