ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 24: Federal Reserve Transparency Act of 2017   [open pdf - 21KB]

"H.R. 24 would amend federal law regarding audits of the Federal Reserve System. Specifically, the bill would direct the Government Accountability Office (GAO) to prepare, within 12 months of enactment, an audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks. The bill would also repeal prohibitions under current law that prevent GAO from auditing the Federal Reserve's monetary policy and any of the Federal Reserve's transactions involving a foreign central bank, the government of a foreign country, or a nonprivate international financing organization. CBO [Congressional Budget Office] expects that the removal of those prohibitions would result in future requests from Members of Congress for GAO to conduct additional oversight and analysis of the Federal Reserve System on a periodic basis."

Publisher:
Date:
2017-04-18
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: https://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations