S. 2409 · 118th Congress
ROI of the Federal Reserve Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ScottSponsorNo cosponsors.
Regular Order for Investments of the Federal Reserve Act or the ROI of the Federal Reserve Act
What it does: CRS summary · Introduced in Senate · Jul 20, 2023
Regular Order for Investments of the Federal Reserve Act or the ROI of the Federal Reserve Act
This bill establishes requirements for Federal Reserve System investments, accounting standards, and reports.
Under the bill, Federal Reserve banks are prohibited from purchasing Treasury bills with a term of maturity of more than three years and mortgage-backed securities. Federal Reserve banks are also prohibited from holding shares of common stock that are acquired on or after the date of enactment of this bill.
The Federal Reserve Board, Federal Reserve banks, and the Federal Open Market Committee must use generally accepted accounting principles and specified valuation methods in certain filings, reports, and audits.
Finally, the board and Federal Reserve banks must annually report to Congress on (1) the status of the middle class and the impact their policies and programs have had on the middle class, and (2) the impact their actions have had on small business lending and lines of credit since 2000.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ROI of the Federal Reserve Act
Also known as: Regular Order for Investments of the Federal Reserve Act
Latest action (Jul 20, 2023): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 20, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.