To ensure that the operations of the Board of Governors of the Federal Reserve System remain independent from the credit policy of the United States, and for other purposes.
About This Bill
Committee
Latest Action · December 16, 2020
Referred to the House Committee on Financial Services.
Independence from Credit Policy Act of 2020
This bill limits the types of securities that the Federal Reserve Board may acquire in the open market to gold stock; currency; and direct obligations of the United States, foreign banks, or the International Monetary Fund. The board must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.
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