118th Congress · SENATE BILLBILL

S. 3566 — Federal Reserve Transparency Act of 2024

“A bill 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 10, 2024

Last action Jan 10, 2024

Pipeline · Bill → Law

Step 1

Introduced

Jan 10, 2024

Step 2

Referred

Jan 10, 2024

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

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 Senate

Timeline · 2 actions

Jan 10, 2024

Introduced in Senate

Jan 10, 2024

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.