S. 3510

A bill to prohibit the Board of Governors of the Federal Reserve System from making funds available at a discount rate to private individuals, partnerships, and corporations.

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II

110th CONGRESS

2d Session

S. 3510

IN THE SENATE OF THE UNITED STATES

September 17, 2008

Mr. Bunning introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To prohibit the Board of Governors of the Federal Reserve System from making funds available at a discount rate to private individuals, partnerships, and corporations.

1.

Repeal of discount authority for private firms

Section 13 of the Federal Reserve Act (12 U.S.C. 343) is amended by striking the third undesignated paragraph (relating to discounts for individuals, partnerships, and corporations).