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H.R. 24 · 118th Congress

Federal Reserve Transparency Act of 2023

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

This bill establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO).

What it does: CRS summary · Introduced in House · Jan 9, 2023

Federal Reserve Transparency Act of 2023

This bill establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO).

Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Federal Reserve Transparency Act of 2023

Latest action (Jan 9, 2023): Referred to the House Committee on Oversight and Accountability.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 9, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.