IIB
113th CONGRESS
2d Session
H. R. 3240
IN THE SENATE OF THE UNITED STATES
December 3, 2014
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
AN ACT
To instruct the Comptroller General of the United States to study the impact of Regulation D, and for other purposes.
Short title
This Act may be cited as the Regulation D Study Act
.
Government Accountability Office study
Study
The Comptroller General of the United States shall conduct a comprehensive study on the impact on depository institutions, consumers, and monetary policy of the requirement that depository institutions maintain reserves in accordance with subsections (b) and (c) of section 19 of the Federal Reserve Act (12 U.S.C. 461) and Regulation D (12 CFR 204).
Matters To be studied
In conducting the study under this section, the Comptroller General shall include the following:
An historic review of how the Board of Governors of the Federal Reserve System has used reserve requirements to conduct United States monetary policy, including information on how and when the Board of Governors has changed the required reserve ratio.
The impact of the maintenance of reserves on depository institutions, including the operational requirements and associated costs.
The impact on consumers in managing their accounts, including the costs and benefits of the reserving system.
Alternatives the Board of Governors may have to the maintenance of reserves to effect monetary policy.
Consultation
In conducting the study under this section, the Comptroller General shall consult with credit unions and community banks.
Report
Not later than 1 year after the date of the enactment of this Act, the Comptroller General shall submit to Congress a report containing—
the results of the study conducted pursuant to this section; and
any recommendations based on such study.
Passed the House of Representatives December 2, 2014.
Karen L. Haas,
Clerk