H.R. 24 · 114th Congress
Federal Reserve Transparency Act of 2015
- Stage
- Reported from committee
- Sponsor
- Thomas Massie
- Introduced
- 2015-01-06
- Latest action
- 2016-07-14 · Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 114-692.
Summary
Federal Reserve Transparency Act of 2015
(Sec. 2) This bill directs the Government Accountability Office to: (1) complete, within 12 months of enactment, the required audit of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.
The bill repeals certain limitations placed upon audits of the Federal Reserve Board and Federal Reserve banks concerning: (1) international financial transactions, (2) deliberations or actions on monetary policy matters, (3) transactions made under the direction of the Federal Open Market Committee, or (4) a part of a discussion or communication among members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to these matters.