H. Rept. 115-1010,Part 1 1 (2018-11-06)

handle is hein.congrecreports/crptxabwe0001 and id is 1 raw text is: AUT-ENTICATED

                   115TH CONGRESS                                 REPT. 115-1010
                     2d Session    HOUSE  OF REPRESENTATIVES         Part 1

                               LENDING PROGRAMS ACT OF 2017

                                  NOVEMBER 6, 2018.-Ordered to be printed

                      Mr. HENSARLING, from the Committee on Financial Services,
                                      submitted the following


                                           together with

                                        MINORITY   VIEWS

                                        [To accompany H.R. 4302]

                            [Including cost estimate of the Congressional Budget Office]
                    The  Committee on Financial Services, to whom was referred the
                  bill (H.R. 4302) to amend the Federal Reserve Act to create con-
                  gressional accountability for emergency lending programs, and for
                  other purposes, having considered the same, report favorably there-
                  on without amendment  and recommend  that the bill do pass.
                                      PURPOSE  AND SUMMARY
                    On  November   8, 2017, Representative Scott Tipton introduced
                  H.R. 4302  the Congressional Accountability for Emergency Lend-
                  ing Programs  Act of 2017, which requires Congress to ratify Fed-
                  eral Reserve loans issued under Section 13(3) of the Federal Re-
                  serve Act while allowing any such loan to remain outstanding for
                  up  to 60 days without ratification, makes supervisory information
                  more  readily available to emergency lending decisions, and estab-
                  lishes a more prudent minimum  interest rate for emergency loans.
                              BACKGROUND   AND NEED  FOR LEGISLATION
                    H.R.  4302 clearly defines responsibilities of the Board of Gov-
                  ernors of the Federal Reserve System (Federal Reserve) and the
                  United  States Congress to both preserve the Federal Reserve's ca-
                  pacity to extend emergency  credit in a timely manner and hold
                  Congress accountable for the fiscal consequences.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing nearly 2,700 academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.

Access to this content requires a subscription. Please visit the following page to request a quote or trial:

Already a HeinOnline Subscriber?