H.R. 8984 · 116th Congress
Independence from Credit Policy Act of 2020
- Stage
- In committee
- Sponsor
- J. Hill
- Introduced
- 2020-12-16
- Latest action
- 2020-12-16 · Introduced in House
Summary
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.