Us Congress 2025-2026 Regular Session

Us Congress House Bill HB2418 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 2418
5	5	To amend the Federal Reserve Act to bring the non-monetary policy related
6	6	functions of the Board of Governors of the Federal Reserve System
7	7	into the appropriations process, and for other purposes.
8	8	IN THE HOUSE OF REPRESENTATIVES
9	9	MARCH27, 2025
10	10	Mr. D
11	11	AVIDSON(for himself and Mr. DONALDS) introduced the following bill;
12	12	which was referred to the Committee on Financial Services
13	13	A BILL
14	14	To amend the Federal Reserve Act to bring the non-mone-
15	15	tary policy related functions of the Board of Governors
16	16	of the Federal Reserve System into the appropriations
17	17	process, and for other purposes.
18	18	Be it enacted by the Senate and House of Representa-1
19	19	tives of the United States of America in Congress assembled, 2
20	20	SECTION 1. SHORT TITLE. 3
21	21	This Act may be cited as the ‘‘Federal Reserve Regu-4
22	22	latory Oversight Act’’. 5
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25	25	•HR 2418 IH
26	26	SEC. 2. BRINGING THE NON-MONETARY POLICY RELATED 1
27	27	FUNCTIONS OF THE BOARD OF GOVERNORS 2
28	28	OF THE FEDERAL RESERVE SYSTEM INTO 3
29	29	THE APPROPRIATIONS PROCESS. 4
30	30	(a) I
31	31	NGENERAL.—The Federal Reserve Act is 5
32	32	amended by inserting after section 11C the following: 6
33	33	‘‘SEC. 11D. APPROPRIATIONS REQUIREMENT FOR NON- 7
34	34	MONETARY POLICY RELATED ADMINISTRA-8
35	35	TIVE COSTS. 9
36	36	‘‘(a) A
37	37	PPROPRIATIONSREQUIREMENT.— 10
38	38	‘‘(1) R
39	39	ECOVERY OF COSTS OF ANNUAL APPRO -11
40	40	PRIATION.—The Board of Governors of the Federal 12
41	41	Reserve System and the Federal reserve banks shall 13
42	42	collect assessments and other fees, as provided under 14
43	43	this Act, that are designed to recover the costs to 15
44	44	the Government of the annual appropriation to the 16
45	45	Board of Governors of the Federal Reserve System 17
46	46	by Congress. The Board of Governors of the Federal 18
47	47	Reserve System and the Federal reserve banks may 19
48	48	only incur obligations or allow and pay expenses 20
49	49	with respect to non-monetary policy related adminis-21
50	50	trative costs pursuant to an appropriations Act. 22
51	51	‘‘(2) O
52	52	FFSETTING COLLECTIONS .—Assessments 23
53	53	and other fees described under paragraph (1) for 24
54	54	any fiscal year— 25
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57	57	•HR 2418 IH
58	58	‘‘(A) shall be deposited and credited as off-1
59	59	setting collections to the account providing ap-2
60	60	propriations to the Board of Governors of the 3
61	61	Federal Reserve System; and 4
62	62	‘‘(B) shall not be collected for any fiscal 5
63	63	year except to the extent provided in advance in 6
64	64	appropriation Acts. 7
65	65	‘‘(3) L
66	66	IMITATION.—This subsection shall only 8
67	67	apply to the non-monetary policy related administra-9
68	68	tive costs of the Board of Governors of the Federal 10
69	69	Reserve System. 11
70	70	‘‘(b) D
71	71	EFINITIONS.—For purposes of this section: 12
72	72	‘‘(1) M
73	73	ONETARY POLICY.—The term ‘monetary 13
74	74	policy’ means a strategy for producing a generally 14
75	75	acceptable exchange medium that supports the pro-15
76	76	ductive employment of economic resources by reli-16
77	77	ably serving as both a unit of account and store of 17
78	78	value. 18
79	79	‘‘(2) N
80	80	ON-MONETARY POLICY RELATED ADMIN -19
81	81	ISTRATIVE COSTS.—The term ‘non-monetary policy 20
82	82	related administrative costs’ means administrative 21
83	83	costs not related to the conduct of monetary policy, 22
84	84	and includes— 23
85	85	‘‘(A) direct operating expenses for super-24
86	86	vising and regulating entities supervised and 25
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89	89	•HR 2418 IH
90	90	regulated by the Board of Governors of the 1
91	91	Federal Reserve System, including conducting 2
92	92	examinations, conducting stress tests, commu-3
93	93	nicating with the entities regarding supervisory 4
94	94	matters and laws, and regulations; 5
95	95	‘‘(B) operating expenses for activities inte-6
96	96	gral to carrying out supervisory and regulatory 7
97	97	responsibilities, such as training staff in the su-8
98	98	pervisory function, research and analysis func-9
99	99	tions including library subscription services, and 10
100	100	collecting and processing regulatory reports 11
101	101	filed by supervised institutions; and 12
102	102	‘‘(C) support, overhead, and pension ex-13
103	103	penses related to the items described under sub-14
104	104	paragraphs (A) and (B).’’. 15
105	105	(b) E
106	106	FFECTIVEDATE.—The amendments made by 16
107	107	this section shall apply with respect to expenses paid and 17
108	108	fees collected on or after October 1, 2025. 18
109	109	Æ
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