IB 

Union Calendar No. 480 

113TH CONGRESS 

2D SESSION H. R. 3240 

[Report No. 113–640] 

To instruct the Comptroller General of the United States to study the impact 

of Regulation D, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 3, 2013 

Mr. PITTENGER (for himself and Mrs. CAROLYN B. MALONEY of New York) 

introduced the following bill; which was referred to the Committee on Financial Services 

DECEMBER 2, 2014 

Additional sponsors: Mr. WESTMORELAND, Mr. COTTON, Mr. KING of New 

York, Mr. MICHAUD, Mr. STIVERS, Mr. VEASEY, Mr. PETERS of Michigan, Mr. FITZPATRICK, Mr. ROSS, Mr. LUCAS, Mr. MURPHY of Florida, 

Mr. DAVID SCOTT of Georgia, Mr. FOSTER, Mr. ROTHFUS, Mr. KILMER, 

Mr. LUETKEMEYER, Mr. HONDA, Mr. COOK, Mr. AMODEI, Mr. RUIZ, Ms. 

NORTON, Mrs. NEGRETE MCLEOD, Mr. HUFFMAN, Mr. HECK of Nevada, 

Mr. VARGAS, Mr. COSTA, Mr. DENHAM, Mr. SWALWELL of California, 

Mr. LOWENTHAL, Mr. LATTA, Mr. TAKANO, Mr. LOEBSACK, and Mr. 

JOYCE

DECEMBER 2, 2014 

Committed to the Committee of the Whole House on the State of the Union 

and ordered to be printed 


tkelley on DSK3SPTVN1PROD with BILLS
2 

•HR 3240 RH

A BILL 

To instruct the Comptroller General of the United States 

to study the impact of Regulation D, and for other purposes. 


tkelley on DSK3SPTVN1PROD with BILLS
3 

•HR 3240 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Regulation D Study 

5 Act’’. 

6 SEC. 2. GOVERNMENT ACCOUNTABILITY OFFICE STUDY. 

7 (a) STUDY.—The Comptroller General of the United 

8 States shall conduct a comprehensive study on the impact 

9 on depository institutions, consumers, and monetary policy 

10 of the requirement that depository institutions maintain 

11 reserves in accordance with subsections (b) and (c) of sec12 tion 19 of the Federal Reserve Act (12 U.S.C. 461) and 

13 Regulation D (12 C.F.R. 204). 

14 (b) MATTERS TO BE STUDIED.—In conducting the 

15 study under this section, the Comptroller General shall in16 clude the following: 

17 (1) An historic review of how the Board of Gov18 ernors of the Federal Reserve System has used re19 serve requirements to conduct United States mone20 tary policy, including information on how and when 

21 the Board of Governors has changed the required re22 serve ratio. 

23 (2) The impact of the maintenance of reserves 

24 on depository institutions, including the operational 

25 requirements and associated costs. 


tkelley on DSK3SPTVN1PROD with BILLS
4 

•HR 3240 RH

1 (3) The impact on consumers in managing their 

2 accounts, including the costs and benefits of the re3 serving system. 

4 (4) Alternatives the Board of Governors may 

5 have to the maintenance of reserves to effect mone6 tary policy. 

7 (c) CONSULTATION.—In conducting the study under 

8 this section, the Comptroller General shall consult with 

9 credit unions and community banks. 

10 (d) REPORT.—Not later than 1 year after the date 

11 of the enactment of this Act, the Comptroller General shall 

12 submit to Congress a report containing— 

13 (1) the results of the study conducted pursuant 

14 to this section; and 

15 (2) any recommendations based on such study. 


tkelley on DSK3SPTVN1PROD with BILLS

tkelley on DSK3SPTVN1PROD with BILLS
Union Calendar No. 480 

113TH CONGRESS 

2D SESSION H. R. 3240 

[Report No. 113–640] 

A BILL 

To instruct the Comptroller General of the United 

for other purposes. States to study the impact of Regulation D, and 

DECEMBER 2, 2014 

Committed to the Committee of the Whole House on the 

State of the Union and ordered to be printed 


tkelley on DSK3SPTVN1PROD with BILLS