A bill to prohibit the Board of Governors of the Federal Reserve System from making funds available at a discount rate to private individuals, partnerships, and corporations.
About This Bill
Committee
Latest Action · September 17, 2008
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8954)
Amends the Federal Reserve Act to repeal the authority of the Board of Governors of the Federal Reserve System, in unusual and exigent circumstances, to discount federal reserve bank-indorsed or -secured notes, drafts, and bills of exchange for private individuals, partnerships, or corporations unable to secure adequate credit accommodations from other banking institutions.
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