Amends the Federal Reserve Act to change the expiration date of the term of office of the Chairman of the Board of Governors of the Federal Reserve System to January 31 of the first calendar year commencing after the calendar year during which the term of the President who appointed such Chairman expires. Directs the President to appoint a Vice Chairman for a term of four years.
Enumerates the duties of the Vice Chairman of the Board.
Stipulates that the person serving as Chairman on the date of enactment of this Act may serve the original four year appointment without regard to the provisions of this Act.
Permits two members of the Board to represent the same district if one is serving or has served as Chairman.
Repeals the requirement that the Board's annual report to Congress be printed as a congressional document.
Terminates the authority of the Secretary of the Treasury to require the delivery of all gold coins, gold bullion, and gold certificates held in the private sector to the Treasurer of the United States.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 96-572.
Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 96-572.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Passed/agreed to in House: Measure passed House, amended.
Measure passed House, amended.
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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