12 U.S. Code § 225b - Appearances before and reports to the Congress
(a) Appearances before the Congress
(1) In general
The Chairman of the Board shall appear before the Congress at semi-annual hearings, as specified in paragraph (2), regarding—
(A) the efforts, activities, objectives and plans of the Board and the Federal Open Market Committee with respect to the conduct of monetary policy; and
The Chairman of the Board shall appear—
(A) before the Committee on Banking and Financial Services of the House of Representatives on or about February 20 of even numbered calendar years and on or about July 20 of odd numbered calendar years;
(B) before the Committee on Banking, Housing, and Urban Affairs of the Senate on or about July 20 of even numbered calendar years and on or about February 20 of odd numbered calendar years; and
(b) Congressional report
The Board shall, concurrent with each semi-annual hearing required by this section, submit a written report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking and Financial Services of the House of Representatives, containing a discussion of the conduct of monetary policy and economic developments and prospects for the future, taking into account past and prospective developments in employment, unemployment, production, investment, real income, productivity, exchange rates, international trade and payments, and prices.
(c) Public access to information
The Board shall place on its home Internet website, a link entitled “Audit”, which shall link to a webpage that shall serve as a repository of information made available to the public for a reasonable period of time, not less than 6 months following the date of release of the relevant information, including—
(2) the annual financial statements prepared by an independent auditor for the Board in accordance with section 248b of this title;
(3) the reports to the Committee on Banking, Housing, and Urban Affairs of the Senate required under section 343 (3) of this title (relating to emergency lending authority); and
Source(Dec. 23, 1913, ch. 6, § 2B, as added Pub. L. 106–569, title X, § 1003(b)(1),Dec. 27, 2000, 114 Stat. 3028; amended Pub. L. 111–203, title XI, § 1103(a),July 21, 2010, 124 Stat. 2118.)
2010—Subsec. (c). Pub. L. 111–203added subsec. (c).
Change of Name
Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
Effective Date of 2010 Amendment
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