Sec. 6. Federal Reserve communications with Congress
427 words·~2 min read·
/bill/113/hr/3928/ih/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2B of the Federal Reserve Act ( 12 U.S.C. 225b ) is amended— in subsection (a), by adding at the end the following: During any appearance before a committee of the Congress, the Chairman or any other official or employee of the Board of Governors making such appearance shall remain as long as members of the committee have questions, but no later than 5 p.m. ; in subsection (b)— in the heading for such subsection, by striking and inserting Report ; reports, questions, and meetings by striking The Board and inserting the following:
The Board ; and by adding at the end the following: Not later than the end of the 6-week period following the date on which any member or employee of the Board of Governors of the Federal Reserve System appears before a committee of the Congress, the Board shall respond, in writing, to any questions submitted by such committee. If the written response described under subparagraph
(A)cannot be provided within the 6-week period described under such subparagraph, the Chairman of the Board shall inform the chairman of the appropriate committee, in writing, within such 6-week period— as to why the Board is unable to provide the written response within the 6-week period; and the expected date on which the Board will respond to such questions. Upon receiving a meeting request from a member or staff member serving on the Committee of Financial Services or Budget of the House of Representatives or the Committee of Banking, Housing, and Urban Affairs or Budget of the Senate, the Board of Governors of the Federal Reserve System shall— respond, within 3 business days, to notify such member or staff member that the request has been received; and include in such response whether the meeting request can be accommodated and, if so, the dates and times when officers and employees of the Board are available for such meeting. If, in a response described under subparagraph (A), the Board states that the meeting cannot be accommodated within the 2-week period following such response, the Chairman of the Board shall accompany such response with a detailed written explanation to the chairman of the committee as to why the meeting cannot be accommodated within such period and when the request will be accommodated. During any period of time with respect to which the Board of Governors or the Chairman of the Board of Governors is in violation of any provision of this subsection, no employee of the Board of Governors may receive an increase in salary or other compensation. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 6
Federal Reserve communications with Congress
Cites 1Cited by 0 across 0 sources