[Congressional Record Volume 144, Number 25 (Wednesday, March 11, 1998)]
[House]
[Page H1113]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               AMENDMENTS

  Under clause 6 of rule XXIII, proposed amendments were submitted as 
follows:

                               H.R. 2883

                          Offered by: Mr. Horn

       Amendment No. 1.: Page 9, after line 15, add the following:

     SEC.   . FINDINGS AND SENSE OF CONGRESS REGARDING THE BOARD 
                   OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.

       (a) Findings.--Congress finds the following:
       (1) Certain provisions enacted by the Government 
     Performance and Results Act of 1993 (Public Law 103-62) are 
     inconsistent with the Federal Reserve Act (12 U.S.C. 221 et 
     seq.).
       (2) The Board of Governors of the Federal Reserve System 
     has indicated that while the Government Performance and 
     Results Act of 1993 is inconsistent with the Federal Reserve 
     Act, the Board of Governors intends to comply voluntarily 
     with the substance of the provisions enacted by the 
     Government Performance and Results Act of 1993.
       (3) The Board of Governors of the Federal Reserve System is 
     accountable to Congress and is required to make annually a 
     full report of its operation to the Speaker of the House of 
     Representatives.
       (b) Sense of Congress.--It is the sense of Congress that--
       (1) the Statutory independence of the Board of Governors of 
     the Federal Reserve System should be maintained, and the 
     Board of Governors should be commended for its commitment to 
     comply voluntarily with the substance of the provisions 
     enacted by the Government Performance and Results Act of 
     1993; and
       (2) the Board of Governors of the Federal Reserve System 
     should include in its annual reports to Congress information 
     pertaining to strategic planning and performance measurement 
     for operations of the Board of Governors, with the exception 
     of such information as pertains to the area of monetary 
     policy.