FEDERAL RESERVE SYSTEM

Addresses

Storms on the Horizon: Richard W. Fisher, E11-E13 [6JA]

Too Big Has Failed: Thomas Hoenig, Federal Reserve Bank of Kansas City, MO, S3037-S3039 [12MR]

University of Notre Dame Otis Bowen Lecture Series: Ralph G. Neas, S5122-S5126 [5MY]

Amendments

Economy: provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), H14650, H14680, H14682, H14709, H14710, H14712, H14714, H14716, H14718, H14721, H14723, H14726, H14734, H14736 [10DE], H14747, H14748, H14750, H14751, H14752, H14757, H14758, H14760, H14762, H14764, H14776 [11DE]

Articles and editorials

Americans' Net Worth Shrinks $1.33 Trillion in 1Q, H6665 [12JN]

No Laughing Matter, S9311 [14SE]

Out of the Shadows, H7115 [23JN]

Private Talks for Public Stimulus; Obama Has Said He Wants Congress To Work in the Open. But He Isn't Troubled by the Recent Negotiations, H3818 [24MR]

Real AIG Outrage, S3581 [19MR]

Bills and resolutions

Board of Governors: abolish and repeal Federal Reserve Act (see H.R. 833), H921 [3FE]

———alter terms and conditions applicable to members (see H.R. 3858), H11514 [20OC]

Business and industry: require institutions receiving Troubled Asset Relief Program or FRS assistance to have employee bonus plans approved in advance of payments (see H.R. 1652), H3705 [19MR]

Credit: protect and enhance consumer and business access to credit and urge credit issuers not to cut credit lines or raise interest rates (see H. Res. 553), H6972 [17JN]

Credit cards: establish a moratorium on interest rate increases (see H.R. 3959), H12044 [28OC]

Dept. of the Treasury: establish a market for municipal securities and cooperate with the FRS in establishment of municipal securities funding facilities services (see H.R. 1669), H3748 [23MR]

———require purchase of certain bonds to return State and local entities to where they would have been had emergency assistance not been provided to Lehman Brothers Holdings Inc. (see H.R. 467), H194 [13JA]

———transmit copies of documents on break-up of, negotiations on additional assistance, and payment of executive bonuses to American International Group, Inc. (AIG) (see H. Res. 251), H3526 [17MR]

———transmit copies of documents on break-up of, negotiations on additional assistance, and payment of executive bonuses to American International Group, Inc. (AIG) (H. Res. 251), consideration (see H. Res. 359), H4733 [23AP]

Economy: define a value for the dollar to stimulate the economy and provide for a sound U.S. dollar (see H.R. 835), H921 [3FE]

———monitor and oversee stability of the financial system, strengthen supervision for large, interconnected financial firms to prevent failure, and minimize impact of failing institutions (see H.R. 3996), H12287 [3NO]

———prohibit any person which sells or otherwise disposes of any asset through a public-private investment program from acquiring any other asset from or through such programs (see H.R. 1893), H4519 [2AP]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (see H.R. 4173), H13465 [2DE]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), consideration (see H. Res. 956), H13627 (see H. Res. 956), H14370 [8DE] (see H. Res. 964), H14742 [10DE]

———provide financial regulatory reform, protect consumers and investors, enhance understanding of insurance issues, and regulate over-the-counter derivatives markets (H.R. 4173), consideration—same-day consideration (see H. Res. 962), H14445 [9DE]

———reform the financial regulatory system of the U.S. (see H.R. 3310), H8707 [23JY]

———require Board of Governors to publish information on financial assistance provided to various entities (see S. 513), S2691 [3MR] (see H.R. 1348), H3054 [5MR]

Federal Accounting Oversight Board: establish (see H.R. 1349), H3054 [5MR]

Federal Reserve Act: provide for lending authority for certain securities purchases (see H.R. 2551), H6008 [21MY]

Federal Reserve Banks: authorize examination of methodologies used by nationally recognized statistical rating organizations in analyzing and rating asset-backed securities and structured finance products (see H.R. 3128), H7836 [8JY]

Financial institutions: create a financial stability council to oversee the financial regulatory activities of the Government (see S. 664), S3609 [23MR] (see H.R. 1754), H4062 [26MR]

———exempt well-managed community-based depository institutions from certain capitalization, debt, and accounting requirements to ensure access to credit by small businesses and family farms (see H. Res. 943), H13520 [3DE]

———prohibit certain affiliations between commercial banking and investment banking companies (see S. 2886), S13319 [16DE]

———require prompt corrective action to resolve problems of bank holding companies (see H.R. 3968), H12140 [29OC]

Financial Services Systemic Risk Oversight Council: establish (see S. 2756), S11290 [9NO]

Gambling: delay compliance date for certain regulations relative to prohibition on funding of unlawful Internet gambling (see H.R. 2266), H5306 [6MY]

GAO: authorize reviews of any credit facility established by the FRS Board of Governors or any Federal reserve bank during the current financial crisis (see S. 1457), S7555 [15JY] (see H.R. 2424), H5665 [14MY]

———reform manner in which GAO audits the FRS Board of Governors and the manner in which such audits are reported (see S. 604), S3113 [16MR] (see H.R. 1207), H2872 [26FE]

———review emergency credit facilities established by the FRS or any Federal Reserve bank (see S. 1803), S10570 [20OC]

President's Working Group on Financial Markets: conduct a study on the hedge fund industry (see H.R. 713), H601 [27JA]

Real estate: provide that certain Regulation Z amendments to prohibit unfair, abusive, or deceptive home mortgage lending practices and restrict other mortgage practices shall take effect (see H.R. 514), H324 [14JA]

Letters

Community Reinvestment Act impact on housing industry, H5145 [5MY], H5293 [6MY]

Exempt certain publicly traded companies from establishing internal financial operations controls and obtaining an outside audit to validate soundness: Benjamin J. McKay III, Property Casualty Insurers Association of America, H14725 [10DE]

———Clarke D. Camper, NYSE Euronext (company), H14725 [10DE]

———James C. Greenwood, Biotechnology Industry Organization, H14725 [10DE]

———John Berlau, Competitive Enterprise Institute, H14726 [10DE]

———Stephen Verdier, Independent Community Bankers of America (organization), H14725 [10DE]

FDIC borrowing authority, S2849 [5MR]

———Ben S. Bernanke, FRS, S1791 [6FE]

———Sheila C. Bair, FDIC, S1791 [6FE]

———Timothy F. Geithner, Sec. of the Treasury, S1791 [6FE]

FRS authority to specify acceptable forms of identification for opening of credit card accounts: Phyllis Schlafly, Eagle Forum (organization), S5422 [13MY]

Improved Oversight by Financial Inspectors General Act, H8969 [29JY]

Wall Street Reform and Consumer Protection Act: Representative Frank, Committee on Financial Services (House), H14441 [9DE]

———Representative Towns, Committee on Oversight and Government Reform (House), H14440 [9DE]

———several organizations, H14719, H14720 [10DE]

Lists

American International Group, Inc. (AIG) bailout beneficiaries, S3581 [19MR]

GAO audit authority covering FRS Board of Governors emergency actions involving Troubled Asset Relief Program, S5181 [6MY]

Primary Government securities dealers reporting to the FRS Government Dealers Statistics Unit, H1280 [12FE]

Motions

Economy: provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), H14800 [11DE]

Remarks in House

American International Group, Inc. (AIG): awarding of bonuses to executives after receiving Government bailout funds, H3415, H3417, H3418, H3423 [16MR], H3446, H3447, H3448, H3449, H3472, H3473, H3475, H3477, H3478, H3505, H3506, H3519 [17MR], H3530, H3532, H3536, H3608, H3610, H3614-H3618, H3620, H3624 [18MR], H3656-H3664, H3687, H3691-H3697 [19MR], H3710-H3712, H3721 [23MR], H3792, H3793, H3812-H3820 [24MR], H4049-H4051 [26MR], H5088 [4MY], H5988 [21MY], H6146 [3JN], H6676-H6678 [12JN], H8032 [14JY], H9256, H9257 [31JY], H11433 [15OC], H11464 [20OC]

———merits of going into receivership rather than receiving Government bailout funds, H3627-H3629 [18MR]

———use of Government bailout funds to make payments to French banks, H3530 [18MR]

Board of Governors: abolish and repeal Federal Reserve Act (H.R. 833), H2808 [25FE], E192 [3FE]

Business and industry: clarify requirement relative to publicly traded companies establishing internal financial operations controls and obtaining an outside audit to validate soundness, H14723-H14726 [10DE]

CFTC: clarify definitions of ``commercial risk'', ``operating risk'', and ``balance sheet risk'' relative to company eligibility for exception to clearing requirement, H14709 [10DE]

Consumer Financial Protection Council: establish, H14771-H14776 [11DE]

Credit: conduct review of consumer credit plans and regulations, H5018, H5019 [30AP]

———establish regulations that would allow estate administrators to resolve outstanding credit balances in a timely manner, H5024, H5025 [30AP]

———policy of lending money to the Federal Government using monetized assets, H6018 [2JN]

———require creditors to post their credit card written agreements on their websites, and require the Federal Reserve Board to compile and report these agreements on its website, H5034, H5035 [30AP]

———submit reports on implementation of regulations requiring enhanced disclosure under an open end credit plan, H5022 [30AP]

Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act: FRS certification of feasibility of implementation of necessary regulations by an earlier effective date, H12321 [4NO]

Dept. of the Treasury: establish a market for municipal securities and cooperate with the FRS in establishment of municipal securities funding facilities services (H.R. 1669), E738 [23MR]

———transmit copies of documents on break-up of, negotiations on additional assistance, and payment of executive bonuses to American International Group, Inc. (AIG) (H. Res. 251), H3479 [17MR], H3540 [18MR], H3656, H3694-H3696 [19MR], H3819 [24MR], H5460-H5463, H5466 [12MY], H6147 [3JN], H6676 [12JN], H9256, H9257 [31JY]

Economy: increase quality and public accessibility of research on effects of monetary policy on distribution of wealth and the proportion of newly created monetary resources directed into various sectors of the economy, H200 [14JA], H496 [26JA]

———national objectives priority assignments, H55-H60 [7JA]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), H13554, H13555, H13556 [8DE], H14377, H14379, H14418-H14442 [9DE], H14448, H14450, H14496, H14650-H14738, H14740 [10DE], H14747-H14804, H14808 [11DE], H14849, H14872, H14873 [14DE], H14884, H14887 [15DE], E2937, E2943 [10DE], E2966, E2969, E2970, E2971, E2972, E2973, E2974, E2975, E2976, E2977, E2979, E2980, E2982, E2983, E2984 [11DE], E2985, E2991, E2993, E2994 [14DE], E3004, E3008, E3013 [15DE], E3019, E3029, E3053 [17DE]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), consideration (H. Res. 956), H14408-H14417 [9DE]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), consideration (H. Res. 964), H14487-H14496 [10DE]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), motion to recommit, H14801-H14804 [11DE]

———provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets (H.R. 4173), unanimous-consent agreement, H14418 [9DE]

———provide financial regulatory reform, protect consumers and investors, enhance understanding of insurance issues, and regulate over-the-counter derivatives markets (H.R. 4173), consideration—same-day consideration (H. Res. 962), H14480-H14487 [10DE]

———reform the financial regulatory system of the U.S., H12267-H12272 [3NO], H13010, H13012 [17NO]

———reform the financial regulatory system of the U.S. (H.R. 3310), E1965-E1967 [24JY]

———suspend capital gains tax, schedule Government-sponsored enterprises for privatization, repeal Full Employment Act, and suspend mark-to-market accounting requirements, H3516, H3520 [17MR]

———systemic risk regulation, H13116 [18NO], H14491 [10DE], E2976 [11DE]

Financial institutions: awarding of bonuses to executives after receiving Government bailout funds, H6665 [12JN]

———clarify definition of ``major swap participant'' in order to protect end users who do not pose a systemic risk, H14713, H14714 [10DE]

———exempt nondepository captive finance companies from standards set for depository insititutions, H14431 [9DE]

———Federal preemption of State consumer financial laws, H14493 [10DE]

———grant CFTC and SEC authority to set a margin or collateral requirement for swaps and security-based swaps involving end users, H14715, H14716 [10DE]

———limit financial institutions and major swap participants to certain ownership percentage in derivatives clearing organizations, H14711, H14712 [10DE]

Financial Services Oversight Council: application of systemic risk and assessment factors in regulation of U.S. financial markets, H14675 [10DE]

———ensure that non-voting members are not excluded from meetings or discussions, H14737 [10DE]

Full Employment and Balanced Growth Act: repeal, E2969 [11DE]

GAO: reform manner in which GAO audits the FRS Board of Governors and the manner in which such audits are reported, H14492 [10DE]

———reform manner in which GAO audits the FRS Board of Governors and the manner in which such audits are reported (H.R. 1207), H3129 [10MR], H3647 [19MR], H8031 [14JY], H9172 [30JY], H9537 [15SE], H9788-H9790 [22SE], H10058 [29SE], H10501, H10502 [6OC], H11284 [13OC], H13376 [1DE], E502 [26FE]

Housing: require disclosure of detailed information regarding the mortgage-backed securities purchase program, H363-H365 [15JA]

Mortgage Reform and Anti-Predatory Lending Act: require the FRS to certify provisions of such Act would not reduce availability or increase the price of credit for qualified mortgages, H5357, H5358 [7MY]

———strike certain provisions relating to high-cost mortgages, H5359 [7MY]

Obama, President: proposal to reform U.S. financial regulatory system, H7115 [23JN], H8414 [21JY], H8589 [23JY], H8812 [27JY], H9496 [15SE]

Public debt: debt held by foreigners, H77 [8JA]

Small business: determine that regulations for enhanced disclosure under an open end credit plan will not result in reduction in availability of credit to small businesses, H5039, H5040 [30AP]

———improve access to credit, H3614 [18MR]

Remarks in Senate

Aguilar, Luis A.: commend remarks relative to U.S. financial regulatory system reform, S11340 [10NO]

American International Group, Inc. (AIG): awarding of bonuses to executives after receiving Government bailout funds, S3097, S3099-S3103, S3109 [16MR], S3123, S3126, S3129, S3132-S3134, S3141, S3144-S3148, S3150 [17MR], S3324, S3327, S3329, S3353, S3356, S3359-S3361 [18MR], S3381, S3385, S3515, S3579-S3581 [19MR]

Bernanke, Ben S.: nomination to be Federal Reserve Board Chair, S12282 [3DE]

Credit: create toll-free number to provide information about credit counseling, S5484 [14MY]

———specify acceptable forms of identification for opening of credit card accounts, S5361 [12MY], S5421-S5423 [13MY]

Economy: national objectives priority assignments, S10953-S10955 [30OC]

———reform the financial regulatory system of the U.S., S11031 [3NO], S11094 [4NO], S11149-S11151 [5NO], S11484 [18NO]

———regulation of U.S. financial markets, S9898 [29SE], S10470 [15OC]

———require Board of Governors to publish information on financial assistance provided to various entities, S4047 [31MR], S4245, S4250 [2AP], S4870 [29AP], S10750 [27OC]

———require Board of Governors to publish information on financial assistance provided to various entities (S. 513), S9651 [22SE], S11032 [3NO]

———systemic risk regulation, S6635-S6637 [16JN]

FDIC: increase borrowing authority, S1790 [6FE]

Financial institutions: awarding of bonuses to executives after receiving Government bailout funds, S3352 [18MR], S11251 [6NO]

———create a financial stability council to oversee the financial regulatory activities of the Government (S. 664), S3611-S3613 [23MR], S6682 [17JN]

———prohibit certain affiliations between commercial banking and investment banking companies (S. 2886), S13321 [16DE]

Financial Services Systemic Risk Oversight Council: establish (S. 2756), S11249, S11250 [6NO]

Friedman, Stephen: resignation as Federal Reserve Bank of New York chairman, S5312 [11MY]

GAO: grant authority to audit FRS Board of Governors activities involving Troubled Asset Relief Program, S5118, S5119 [5MY], S5181, S5182 [6MY]

———reform manner in which GAO audits the FRS Board of Governors and the manner in which such audits are reported, S7124, S7125 [6JY]

———review emergency credit facilities established by the FRS or any Federal Reserve bank (S. 1803), S10573 [20OC]

Geithner, Timothy F.: impact of actions as Federal Reserve Bank of New York president on suitability to be Sec. of the Treasury, S813-S818 [26JA]

Obama, President: proposal to reform U.S. financial regulatory system, S6682, S6692-S6695, S6700 [17JN]

Real estate: lower interest rates on 30-year fixed mortgages for creditworthy borrowers to refinance current loans or make new home purchases, S1373 [3FE], S1474-S1478, S1509 [4FE], S1648, S1654, S1657, S1662 [5FE], S2185 [12FE], S2409, S2410 [24FE]

Schapiro, Mary L.: commend remarks relative to U.S. financial regulatory system reform, S11340 [10NO]

Tarullo, Daniel K.: nomination to FRS Board of Governors, S881 [27JA]

Reports filed

Consideration of H.R. 4173, Wall Street Reform and Consumer Protection Act: Committee on Rules (House) (H. Res. 956) (H. Rept. 111-365), H13627, H14370 [8DE]

———Committee on Rules (House) (H. Res. 964) (H. Rept. 111-370), H14742 [10DE]

Nomination of Ben S. Bernanke To Be FRS Board of Governors Chairman: Committee on Banking, Housing, and Urban Affairs (Senate), S13382 [17DE]

Same-Day Consideration of Consideration of H.R. 4173, Wall Street Reform and Consumer Protection Act: Committee on Rules (House) (H. Res. 962) (H. Rept. 111-369), H14445 [9DE]

Transmittal of Documents on Break-Up of, Additional Assistance, and Payment of Executive Bonuses to American International Group, Inc. (AIG): Committee on Financial Services (House) (H. Res. 251) (H. Rept. 111-84), H4731 [23AP]

Texts of

H. Res. 956, consideration of H.R. 4173, Wall Street Reform and Consumer Protection Act, H14408 [9DE]

H. Res. 962, same-day consideration of consideration of H.R. 4173, Wall Street Reform and Consumer Protection Act, H14481 [10DE]

H. Res. 964, consideration of H.R. 4173, Wall Street Reform and Consumer Protection Act, H14487 [10DE]

H.R. 4173, Wall Street Reform and Consumer Protection Act, H14496-H14650 [10DE]