,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #dgee  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #aj1 #bjah,mr4
 ,davidson introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,f9ancial   
,s]vices  ,a ,,bill  ,to am5d ! ,f$]al  
,res]ve ,act to br+ ! non-monet>y policy
 relat$ functions ( ! ,bo>d ( ,gov]nors 
( ! ,f$]al ,res]ve ,sy/em into !        
appropriations process1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,f$]al ,res]ve ,regulatory 
,ov]sight ,act4  #b4 ,br++ ! non-monet>y
 policy relat$ functions ( ! ,bo>d (    
,gov]nors ( ! ,f$]al ,res]ve ,sy/em into
 ! appropriations process  7a7 ,9 g5]al 
,! ,f$]al ,res]ve ,act is am5d$ by      
ins]t+ aft] section #aa;,b ! foll[+3    
#aa;,c4 ,appropriations requirem5t =    
non-monet>y policy relat$ adm9i/rative  
co/s  7a7 ,appropriations requirem5t    
7#a7 ,recov]y ( co/s ( annual           
appropriation ,! ,bo>d ( ,gov]nors ( !  
,f$]al ,res]ve ,sy/em & ! ,f$]al res]ve 
banks %all collect assessm5ts & o!r     

fees1 z provid$ "u ?is ,act1 t are      
design$ to recov] ! co/s to ! ,gov]nm5t 
( ! annual appropriation to ! ,bo>d (   
,gov]nors ( ! ,f$]al ,res]ve ,sy/em by  
,congress4 ,! ,bo>d ( ,gov]nors ( !     
,f$]al ,res]ve ,sy/em & ! ,f$]al res]ve 
banks may only incur obligations or all[
 & pay exp5ses ) respect to non-monet>y 
policy relat$ adm9i/rative co/s pursuant
 to an appropriations ,act4  7#b7       
,(fsett+ collections ,assessm5ts & o!r  
fees describ$ "u p>agraph 7#a7 = any    
fiscal ye>--  7,a7 %all be deposit$ &   
cr$it$ z (fsett+ collections to ! acc\nt
 provid+ appropriations to ! ,bo>d (    
,gov]nors ( ! ,f$]al ,res]ve ,sy/em2 &  
7,b7 %all n be collect$ = any fiscal ye>
 except to ! ext5t provid$ 9 advance 9  
appropriation ,acts4  7#c7 ,limitation  
,?is subsection %all only apply to !    
non-monet>y policy relat$ adm9i/rative  
co/s ( ! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em4  7b7 ,def9itions ,=     
purposes ( ?is section3  7#a7 ,monet>y  
policy ,! t]m monet>y policy means a    

/rategy = produc+ a g5]ally acceptable  
ex*ange m$ium t supports ! productive   
employm5t ( economic res\rces by        
reliably s]v+ z bo? a unit ( acc\nt &   
/ore ( value4  7#b7 ,non-monet>y policy 
relat$ adm9i/rative co/s ,! t]m         
non-monet>y policy relat$ adm9i/rative  
co/s means adm9i/rative co/s n relat$ to
 ! conduct ( monet>y policy1 &          
includes--  7,a7 direct op]at+ exp5ses =
 sup]vis+ & regulat+ entities sup]vis$ &
 regulat$ by ! ,bo>d ( ,gov]nors ( !    
,f$]al ,res]ve ,sy/em1 includ+ conduct+ 
exam9ations1 conduct+ /ress te/s1       
communicat+ ) ! entities reg>d+         
sup]visory matt]s & laws1 & regulations2
  7,b7 op]at+ exp5ses = activities      
integral to c>ry+ out sup]visory &      
regulatory responsibilities1 su* z tra9+
 /aff 9 ! sup]visory function1 rese>* & 
analysis functions includ+ libr>y       
subscription s]vices1 & collect+ &      
process+ regulatory reports fil$ by     
sup]vis$ in/itutions2 &  7,c7 support1  
ov]head1 & p5sion exp5ses relat$ to !   

items describ$ "u subp>agraphs 7,a7 &   
7,b74  4  7b7 ,effective date ,!        
am5dm5ts made by ?is section %all apply 
) respect to exp5ses paid & fees        
collect$ on or aft] ,octob] #a1 #bjah4