118th Congress · HOUSE BILLBILL

H.R. 24 — Federal Reserve Transparency Act of 2023

“To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes.”

Finance and financial sector

Introduced Jan 9, 2023

Last action Jan 9, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jan 9, 2023

Step 2

Referred

Jan 9, 2023

Oversight

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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 thes...

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jan 9, 2023

Introduced in House

Jan 9, 2023

Referred to the House Committee on Oversight and Accountability.