H.R. 1662 · 118th Congress
Emergency Liquidity Act of 2023
- Stage
- In committee
- Sponsor
- Ritchie Torres
- Introduced
- 2023-03-17
- Latest action
- 2023-03-17 · Introduced in House
Summary
Emergency Liquidity Act of 2023
This bill requires the Board of Governors of the Federal Reserve System to establish and maintain a permanent emergency lending program through which a Federal reserve bank may provide short-term liquidity to member banks or other depository institutions that pledge collateral eligible for purchase by the Federal reserve banks in open market operations.