119-s1647

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1647 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1647

 To limit purchases of the Federal reserve banks, to require Generally 
 Accepted Accounting Principles standards, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 May 7, 2025

 Mr. Scott of Florida introduced the following bill; which was read 
 twice and referred to the Committee on Banking, Housing, and Urban 
 Affairs

_______________________________________________________________________

 A BILL

 To limit purchases of the Federal reserve banks, to require Generally 
 Accepted Accounting Principles standards, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Regular Order for Investments of the 
Federal Reserve Act'' or the ``ROI of the Federal Reserve Act''.

SEC. 2. AMENDMENTS TO THE FEDERAL RESERVE ACT.

 The Federal Reserve Act is amended--

    (1) in 

section 2B (12 U.S.C. 225b), by adding at the end 
 the following:
 ``
            (d) Additional Annual Reports.--The Board and each Federal 
reserve bank shall submit to Congress, on an annual basis--
 ``

    (1) a report on the status and health of the middle class 
 in the United States, including an analysis of how the policies 
 and programs of the Board and the Federal reserve banks either 
 positively or negatively impacted the growth of the middle 
 class in the United States; and
 ``

    (2) a report on the impact of the actions of the Board 
 and the Federal reserve banks on the availability of small 
 business lending and lines of credit since 2000, specifically 
 how the balance sheet of the Federal reserve banks, the lending 
 facilities of the Board, and interest paid on reserves of the 
 Federal reserve banks have impacted business credit and 
 lending.'';

    (2) in 

section 14

    (b)

    (2) (12 U.S.C. 355

    (b)

    (2) ), by inserting 
 before the period at the end the following: ``, except that, 
 notwithstanding this paragraph and paragraph

    (1) , on and after 
 the date of enactment of the Regular Order for Investments of 
 the Federal Reserve Act, a Federal reserve bank may not--
 ``
        (A) purchase a Treasury bill with a term of maturity that 
 is more than 3 years;
 ``
        (B) purchase a mortgage-backed security; or
 ``
            (C) directly or indirectly hold shares of common stock 
 acquired on or after the date of enactment of the Regular Order 
 for Investments of the Federal Reserve Act''; and

    (3) by adding at the end the following:

``

SEC. 33. ACCOUNTING PRINCIPLES AND VALUATIONS.

 ``

    (a) Accounting Principles.--The accounting principles applicable 
to any filings made by the Board, the Federal Open Market Committee, or 
a Federal reserve bank shall be consistent with generally accepted 
accounting principles.
 ``

    (b) Valuations.--The Board, the Federal Open Market Committee, 
and each Federal reserve bank shall use mark-to-market valuations for 
each financial estimate described in a report or audit under the 
seventh undesignated paragraph of 

section 10, 

section 11

    (a) , or 

section 11B.''.
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