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.

Bill Number

S 3510

Introduced

Sep 17, 2008

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S895 ...

Sponsor

Cosponsors

Topics

Commerce Consumer credit Corporate finance Credit Federal Reserve System Finance and Financial Sector Interest rates Loans

Full Text

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Votes

Summary

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.

Actions

Sep 17, 2008

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8954)
Sep 17, 2008

Introduced in Senate

Amendments

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