118th Congress · HOUSE BILLBILL

H.R. 1662 — Emergency Liquidity Act of 2023

“To direct the Board of Governors of the Federal Reserve System to establish and maintain a permanent emergency lending program to provide member banks and other depository institutions with short-term liquidity against long-term assets.”

Finance and financial sector

Introduced Mar 17, 2023

Last action Mar 17, 2023

Pipeline · Bill → Law

Step 1

Introduced

Mar 17, 2023

Step 2

Referred

Mar 17, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Mar 17, 2023

Introduced in House

Mar 17, 2023

Referred to the House Committee on Financial Services.