,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #cibh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bd1 #bjai ,mr4 
,riggleman introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,f9ancial   
,s]vices  ,a ,,bill  ,to require ! ,bo>d
 ( ,gov]nors ( ! ,f$]al ,res]ve to      
satisfy c]ta9 requirem5ts be=e provid+  
any new paym5t s]vice1 or sub/antially  
*ang+ or exp&+ any exi/+ paym5t s]vice1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,f$]al ,res]ve     
,acc\ntability & ,ju/ification ,act4    
#b4 ,paym5t s]vices ,section #aa;,a ( ! 
,f$]al ,res]ve ,act 7#ab ,u4,s4,c4      
#bdh;a7 is am5d$ by add+ at ! end !     
foll[+3  7f7 ,paym5t s]vice  7#a7 ,9    
g5]al ,! ,bo>d may n provide any new    
paym5t s]vice1 or sub/antially *ange or 
exp& any exi/+ paym5t s]vice unless !   
,bo>d det]m9es t--  7,a7 any co/s       
associat$ ) su* s]vice w be recov]$2    
7,b7 provid+ su* s]vice w yield a cle>  
public b5efit1 su* z promot+ ! integrity
 ( ! paym5ts sy/em1 improv+ !           

effectiv5ess ( f9ancial m>kets1 r$uc+ ! 
risk associat$ ) paym5ts &              
securities-transf] s]vices1 or improv+ !
 effici5cy ( ! paym5ts sy/em2  7,c7 no  
o!r provid]s c be expect$ to provide su*
 s]vice ) reasonable effectiv5ess1      
scope1 & equity2 &  7,d7 o!r provid]s   
are able to compete ) ! ,f$]al ,res]ve  
,banks 9 (f]+ su* s]vice1 bas$ on a     
competitive impact /udy4  7#b7          
,reasonable effectiv5ess1 scope1 &      
equity  7,a7 ,9 g5]al ,= ! purposes (   
p>agraph #a7;,a71 ! ,bo>d %all det]m9e t
 o!r provid]s c be expect$ to provide   
su* s]vice ) reasonable effectiv5ess1   
scope1 & equity if ! ,bo>d has f\nd t   
o!r provid]s--  7i7 (f] a s]vice t      
sub/antially p]=ms ! mat]ial functions (
 su* s]vice t ! ,bo>d w\ld provide & (f]
 ! s]vice to memb] & nonmemb] depository
 in/itutions on nondiscrim9atory t]ms1  
reg>dless ( ! size ( ! in/itution2 or   
7ii7 are capable )9 a reasonable "t (   
(f]+ a s]vice t sub/antially p]=ms !    
mat]ial functions ( su* s]vice t ! ,bo>d

 w\ld provide & ( (f]+ ! s]vice to memb]
 & nonmemb] depository in/itutions on   
nondiscrim9atory t]ms1 reg>dless ( !    
size ( ! in/itution4  7,b7 ,c5tral bank 
money ,! ability ( ! ,bo>d to settle    
int]bank obligations us+ balances at !  
c5tral bank 7also ref]r$ to z c5tral    
bank money7 %all n alone be suffici5t to
 support a det]m9ation by ! ,bo>d t o!r 
provid]s alone _c be expect$ to provide 
su* s]vice ) reasonable effectiv5ess1   
scope1 & equity4  7#c7 ,exception ,!    
s]vice (f]$ by ! ,bo>d kn[n z ! ,f$]al  
,funds ,wire ,s]vice is n subject to !  
requirem5ts ( ?is subsection4  7#d7     
,f9al rule ,! ,bo>d %all publi% 9 !     
,f$]al ,regi/]1 9 accordance ) section  
#eec ( title #e ( ! ,unit$ ,/ates ,code1
 a f9al rule t /ates any det]m9ation    
made pursuant to p>agraph 7#a7 & expla9s
 ! basis = su* det]m9ation4  7#e7       
,judicial review  7,a7 ,9 g5]al ,any    
p]son adv]sely affect$ or aggriev$ by a 
failure ( ! ,bo>d to prop]ly make a     
det]m9ation "u ?is subsection be=e      

provid+ a new paym5t s]vice or          
sub/antially *ang+ or exp&+ an exi/+    
paym5t s]vice is entitl$ to judicial    
review !re(4  7,b7 ,def]5ce ,a c\rt may 
n give def]5ce to ! ,bo>d :5 conduct+ a 
review "u ?is p>agraph4  4