Regulation D Study Act

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

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).

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.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3240 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 3240

 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

_______________________________________________________________________

                                 A BILL


 
 To instruct the Comptroller General of the United States to study the 
            impact of Regulation D, 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 ``Regulation D Study Act''.

SEC. 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.
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