Bill > HR7132

This bill, titled the "Enhancing Financial Stability Research and Oversight Act," aims to strengthen the independence and operational capacity of key financial regulatory bodies. Specifically, it seeks to preserve the independent funding of the Office of Financial Research (OFR) by establishing a minimum annual budget of $124,627,000, which will be adjusted annually for inflation, and granting its Director sole discretion over the OFR's budget. The bill also mandates a minimum staffing level of 231 full-time equivalent positions for the OFR. Furthermore, it sets minimum staffing and funding levels for the Financial Stability Oversight Council (FSOC), requiring it to have at least 48 full-time equivalent positions and a minimum annual budget of $15,287,000, also adjusted for inflation, to be transferred from the OFR. These provisions are intended to ensure these entities can effectively carry out their mandates related to monitoring and addressing risks to U.S. financial stability, as originally established by the Financial Stability Act of 2010.

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https://www.congress.gov/bill/119th-congress/house-bill/7132/all-info