I 
119TH CONGRESS 
2D SESSION 
H. R. 7132 
To amend the Financial Stability Act of 2010 to preserve the independent 
funding in the Office of Financial Research, to establish minimum staff-
ing levels for the Financial Stability Oversight Council, to establish 
minimum funding levels for such staff, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 16, 2026 
Mr. FOSTER (for himself, Mr. SHERMAN, Mrs. BEATTY, Mr. CASTEN, and Ms. 
VELA´ZQUEZ) introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To amend the Financial Stability Act of 2010 to preserve 
the independent funding in the Office of Financial Re-
search, to establish minimum staffing levels for the Fi-
nancial Stability Oversight Council, to establish minimum 
funding levels for such staff, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Enhancing Financial 
Stability Research and Oversight Act’’. 
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SEC. 2. PRESERVING INDEPENDENT FUNDING. 
The Financial Stability Act of 2010 (12 U.S.C. 5311 
et seq.) is amended— 
(1) in section 152— 
(A) by amending subsection (c) to read as 
follows: 
‘‘(c) BUDGET.— 
‘‘(1) IN
GENERAL.—The Director shall have 
sole discretion to establish the annual budget of the 
Office. 
‘‘(2) MINIMUM FUNDING LEVEL OF THE BUDG-
ET.—The annual budget of the Office in any given 
fiscal year shall not be less than $124,627,000. 
‘‘(3) ADJUSTMENT
OF
MINIMUM
FUNDING 
LEVEL.—The dollar amount referred to in para-
graph (2) shall be adjusted annually by the Director, 
using the percent increase (if any) in the employ-
ment cost index for total compensation for State and 
local government workers published by the Federal 
Government, or the successor index thereto, for the 
12-month period ending September 30 of the year 
preceding the annual budget.’’; 
(B) in subsection (d)— 
(i) by striking ‘‘, in consultation with 
the Chairperson,’’ each place such term ap-
pears; and 
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(ii) in paragraph (1), by striking 
‘‘may fix the number of, and appoint’’ and 
inserting ‘‘shall ensure that the Office has 
not less than 231 full-time equivalent posi-
tions, and may appoint’’; 
(C) in subsection (h), by striking ‘‘, in con-
sultation with the Chairperson,’’; and 
(D) in subsection (i), by striking ‘‘, in con-
sultation with the Chairperson,’’; and 
(2) in section 155— 
(A) in subsection (d), by inserting before 
the period the following: ‘‘, as determined in the 
sole discretion of the Director’’; and 
(B) by adding at the end the following: 
‘‘(e) REVIEWABILITY.—Notwithstanding any other 
provision of this subtitle, the funding pursuant to sub-
section (d) shall not be subject to review by the Commit-
tees on Appropriations of the House of Representatives 
and the Senate. 
‘‘(f) PRESERVATION OF THE OFFICE OF FINANCIAL 
RESEARCH’S INDEPENDENCE.—Nothing in this section 
shall authorize the Secretary to influence the budget or 
the number or compensation of employees of the Office.’’. 
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SEC. 3. MINIMUM FSOC STAFFING LEVELS. 
(a) MINIMUM STAFFING LEVEL.—Section 111 of the 
Financial Stability Act of 2010 (12 U.S.C. 5321) is 
amended by adding at the end the following: 
‘‘(k) MINIMUM STAFFING LEVEL.—The Chairperson 
of the Council shall ensure that the Council has not less 
than 48 full-time equivalent positions, not including any 
employees detailed pursuant to subsection (j).’’. 
(b) MINIMUM BUDGET LEVELS.—Section 118 of the 
Financial Stability Act of 2010 (12 U.S.C. 5328) is 
amended to read as follows: 
‘‘SEC. 118. COUNCIL FUNDING. 
‘‘(a) IN GENERAL.—The Office of Financial Re-
search shall transfer to the Council the amount of funds 
necessary to pay for the expenses of the Council, and the 
Council may immediately use such funds. 
‘‘(b) MINIMUM BUDGET.—The Office of Financial 
Research shall transfer not less than $15,287,000 to the 
Council each year to pay for the staffing and other ex-
penses of the Council, including for the office of the inde-
pendent member of the Council described under section 
111(b)(1)(J). Such dollar amount shall be adjusted annu-
ally by the Chairperson of the Council, using the percent 
increase (if any) in the employment cost index for total 
compensation for State and local government workers pub-
lished by the Federal Government, or the successor index 
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thereto, for the 12-month period ending September 30 of 
the previous year.’’. 
Æ 
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