The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency), also known as the Senate Banking Committee, has jurisdiction over matters related to
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
s and banking,
price controls,
deposit insurance,
export
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an ...
promotion and controls, federal
monetary policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often a ...
, financial aid to commerce and industry, issuance of redemption of notes,
currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general ...
and coinage, public and private housing,
urban development
Urban means "related to a city". In that sense, the term may refer to:
* Urban area, geographical area distinct from rural areas
* Urban culture, the culture of towns and cities
Urban may also refer to:
General
* Urban (name), a list of peop ...
,
mass transit and government contracts.
The current chair of the committee is Democrat Sherrod Brown of Ohio, and the Ranking Member is Republican Pat Toomey of Pennsylvania.
History
The committee is one of twenty
standing committees in the
United States Senate
The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States.
The composition and pow ...
. The committee was formally established as the "Committee on Banking and Currency" in 1913, when Senator
Robert L. Owen of
Oklahoma sponsored the
Federal Reserve Act
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States.
The Pani ...
. Senator Owen served as the committee's inaugural chairman.
Jurisdiction
In accordance of Rule XXV of the United States Senate, all proposed legislation, messages, petitions, memorials, and other matters relating to the following subjects are referred to the Senate Banking Committee:
# Banks, banking, and financial institutions;
# Control of prices of commodities, rents, and services;
# Deposit insurance;
# Economic stabilization and defense production;
# Export and foreign trade promotion;
# Export controls;
# Federal monetary policy, including Federal Reserve System;
# Financial aid to commerce and industry;
# Issuance and redemption of notes;
# Money and credit, including currency and coinage;
# Nursing home construction;
# Public and private housing (including veterans' housing);
# Renegotiation of Government contracts; and,
# Urban development and urban mass transit.
[ ]
The Senate Banking Committee is also charged to "study and review, on a comprehensive basis, matters relating to international economic policy as it affects United States monetary affairs, credit, and financial institutions; economic growth, urban affairs, and credit, and report thereon from time to time."
Members, 117th Congress
Subcommittees
Chairs
Committee on Banking and Currency, 1913–1970
Committee on Banking, Housing, and Urban Affairs, 1970–present
Historical membership rosters
116th Congress
;Subcommittees
115th Congress
Subcommittees
Source
114th Congress
Subcommittees
113th Congress
See also
*
List of current United States Senate committees
This is a complete list of U.S. congressional committees (standing committees and select or special committees) that are operating in the United States Senate. Senators can be a member of more than one committee.
Standing committees
, there are ...
*
United States House Committee on Financial Services
The United States House Committee on Financial Services, also referred to as the House Banking Committee and previously known as the Committee on Banking and Currency, is the United States congressional committee, committee of the United States H ...
, the congressional counterpart of this committee
*
Pecora Commission
The Pecora Investigation was an inquiry begun on March 4, 1932, by the United States Senate Committee on Banking and Currency to investigate the causes of the Wall Street Crash of 1929. The name refers to the fourth and final chief counsel for th ...
, the commission established to investigate the causes of the
Wall Street Crash of 1929
The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended late in October, when share prices on the New York Stock Exchange coll ...
References
External links
U.S. Senate Committee on Banking, Housing, and Urban AffairsArchive
Senate Banking, Housing, and Urban Affairs Committee
Legislation activity and reports, Congress.gov.
{{DEFAULTSORT:United States Senate Committee On Banking, Housing, And Urban Affairs
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Becau ...
1913 establishments in Washington, D.C.
Organizations established in 1913