Bill > S1647

This bill, known as the "Regular Order for Investments of the Federal Reserve Act" (ROI of the Federal Reserve Act), proposes several significant changes to the Federal Reserve's operations. First, it mandates that the Federal Reserve and its regional banks submit two new annual reports to Congress: one analyzing the impact of their policies on the middle class, and another examining how their actions have affected small business lending since 2000. Additionally, the bill places new restrictions on the Federal Reserve banks' investment activities, prohibiting them from purchasing Treasury bills with maturities longer than 3 years, buying mortgage-backed securities, or acquiring common stock shares after the bill's enactment. The legislation also requires the Federal Reserve, the Federal Open Market Committee, and regional Federal Reserve banks to use Generally Accepted Accounting Principles (GAAP) for their financial filings and to employ mark-to-market valuations when estimating financial values in reports and audits. These changes aim to increase transparency, limit the Federal Reserve's investment scope, and provide more detailed insights into the potential economic impacts of the Federal Reserve's policies.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1647/all-info