Regulation D Study Act

Bill: 113-hr-3240
Sponsor: full_name: Rep. Pittenger, Robert [R-NC-9]
Introduced: 2013-10-03
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital

Banking and financial institutions regulation

Congressional oversight

Federal Reserve System

Government studies and investigations

Monetary policy
Latest action: action_date: 2014-12-03
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2013-10-03
action_desc: Introduced in House
text: <p>Regulation D Study Act - Directs the Comptroller General (GAO) to study the impact upon depository institutions, consumers, and monetary policy of the requirement that depository institutions maintain reserves in accordance with the Federal Reserve Act and Regulation D (Reserve Requirements of Depository Institutions). </p> <p>Requires such study to include: (1) a historic review of how the Board of Governors of the Federal Reserve System has used reserve requirements to conduct U.S. monetary policy, (2) the impact of the maintenance of reserves upon depository institutions, (3) the impact upon consumers in managing their accounts, and (4) alternatives available to the Board to maintain reserves to effect monetary policy.</p>

action_date: 2014-12-02
action_desc: Passed House without amendment
text: <p><b>(This measure has not been amended since it was introduced. The summary of that version is repeated here.)</b></p> <p>Regulation D Study Act - Directs the Comptroller General (GAO) to study the impact upon depository institutions, consumers, and monetary policy of the requirement that depository institutions maintain reserves in accordance with the Federal Reserve Act and Regulation D (Reserve Requirements of Depository Institutions). </p> <p>Requires such study to include: (1) a historic review of how the Board of Governors of the Federal Reserve System has used reserve requirements to conduct U.S. monetary policy, (2) the impact of the maintenance of reserves upon depository institutions, (3) the impact upon consumers in managing their accounts, and (4) alternatives available to the Board to maintain reserves to effect monetary policy.</p> <p> <p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3240 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 A BILL To instruct the Comptroller General of the United States to study the impact of Regulation D, and for other purposes.

1. Short title This Act may be cited as the Regulation D Study Act . 2. Government Accountability Office study (a) 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 C.F.R. 204). (b) Matters To be studied In conducting the study under this section, the Comptroller General shall include the following: (1) 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. (2) The impact of the maintenance of reserves on depository institutions, including the operational requirements and associated costs. (3) The impact on consumers in managing their accounts, including the costs and benefits of the reserving system. (4) Alternatives the Board of Governors may have to the maintenance of reserves to effect monetary policy. (c) Consultation In conducting the study under this section, the Comptroller General shall consult with credit unions and community banks. (d) 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— (1) the results of the study conducted pursuant to this section; and (2) any recommendations based on such study.

tv_txt: IB Union Calendar No. 480 113th CONGRESS 2d Session H. R. 3240 [Report No. 113–640] 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 A BILL To instruct the Comptroller General of the United States to study the impact of Regulation D, and for other purposes.

1. Short title This Act may be cited as the Regulation D Study Act . 2. Government Accountability Office study (a) 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 C.F.R. 204). (b) Matters To be studied In conducting the study under this section, the Comptroller General shall include the following: (1) 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. (2) The impact of the maintenance of reserves on depository institutions, including the operational requirements and associated costs. (3) The impact on consumers in managing their accounts, including the costs and benefits of the reserving system. (4) Alternatives the Board of Governors may have to the maintenance of reserves to effect monetary policy. (c) Consultation In conducting the study under this section, the Comptroller General shall consult with credit unions and community banks. (d) 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— (1) the results of the study conducted pursuant to this section; and (2) any recommendations based on such study.

December 2, 2014 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

tv_txt: I 113th CONGRESS 2d Session H. R. 3240 IN THE HOUSE OF REPRESENTATIVES AN ACT To instruct the Comptroller General of the United States to study the impact of Regulation D, and for other purposes.

1. Short title This Act may be cited as the Regulation D Study Act . 2. Government Accountability Office study (a) 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). (b) Matters To be studied In conducting the study under this section, the Comptroller General shall include the following: (1) 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. (2) The impact of the maintenance of reserves on depository institutions, including the operational requirements and associated costs. (3) The impact on consumers in managing their accounts, including the costs and benefits of the reserving system. (4) Alternatives the Board of Governors may have to the maintenance of reserves to effect monetary policy. (c) Consultation In conducting the study under this section, the Comptroller General shall consult with credit unions and community banks. (d) 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— (1) the results of the study conducted pursuant to this section; and (2) any recommendations based on such study.

Passed the House of Representatives December 2, 2014. Karen L. Haas, Clerk.

tv_txt: 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.

1. Short title This Act may be cited as the Regulation D Study Act . 2. Government Accountability Office study (a) 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). (b) Matters To be studied In conducting the study under this section, the Comptroller General shall include the following: (1) 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. (2) The impact of the maintenance of reserves on depository institutions, including the operational requirements and associated costs. (3) The impact on consumers in managing their accounts, including the costs and benefits of the reserving system. (4) Alternatives the Board of Governors may have to the maintenance of reserves to effect monetary policy. (c) Consultation In conducting the study under this section, the Comptroller General shall consult with credit unions and community banks. (d) 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— (1) the results of the study conducted pursuant to this section; and (2) any recommendations based on such study.

Passed the House of Representatives December 2, 2014. Karen L. Haas, Clerk