S 3671 · 94th Congress · Finance and Financial Sector

A bill to amend section 14(b) of the Federal Reserve Act, as amended, to extend for five years the authority of Federal Reserve banks to purchase U.S. obligations directly from the Treasury.

Introduced 1976-07-20· Sponsored by Sen. Proxmire, William [D-WI]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Banking, Housing and Urban Affairs.(1976-07-20)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Federal Reserve Act to extend for five years, from October 31, 1976, to October 31, 1981, the temporary authority under which Federal Reserve banks may purchase public debt obligations from the Treasury in an amount not to exceed $5,000,000,000 outstanding at any one time.…

Summarized by Claude AI · Non-partisan · For informational purposes only