House Bill 4278
115th Congress(2017-2018)
Independence from Credit Policy Act of 2017
Introduced
Introduced in House on Nov 7, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4278
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Independence from Credit Policy Act of 2017
This bill limits the types of securities that the Federal Reserve Board (FRB) may acquire in the open market to: (1) gold stock; (2) currency; and (3) direct obligations of the United States, foreign banks, or the International Monetary Fund. The FRB must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.
01/02/2019
Placed on the Union Calendar, Calendar No. 884.
01/02/2019
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1117.
11/14/2017
Ordered to be Reported by the Yeas and Nays: 33 - 26.
11/14/2017
Committee Consideration and Mark-up Session Held.
11/07/2017
Referred to the House Committee on Financial Services.
11/07/2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
11/07/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:38:05 PM