118th Congress Finance and Financial Sector
H.R. 3242: To amend the Federal Reserve Act to establish a permanent Bank Term Funding Program to provide member banks and other depository institutions with short-term liquidity against long-term assets.
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill establishes the Bank Term Funding Program, which allows a Federal Reserve bank to make advances to depository institutions that pledge certain collateral fully guaranteed by the United States. An advance must be made available with a term of up to one year.
Written by the Congressional Research Service, Library of Congress.
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History
- Introduced in the House by Blaine Luetkemeyer.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.