,,ii  #aag? ,,congress  #b;d ,session   
,s4 #ecda  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ba1 #bjbb    
,mr4 ,toomey 7= himself1 ,mr4 ,cram]1   
,mr4 ,cruz1 ,mr4 ,hag]ty1 ,mr4 ,lee1    
,ms4 ,lummis1 & ,mr4 ,tillis7 introduc$ 
! foll[+ bill2 :i* 0 read twice & ref]r$
 to ! ,committee on ,bank+1 ,h\s+1 &    
,urban ,affairs  ,a ,,bill  ,to am5d !  
,f$]al ,res]ve ,act to provide great]   
acc\ntability to ! ,f$]al ,res]ve       
,sy/em1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,f$]al  
,res]ve ,acc\ntability ,act ( #bjbb4    
#b4 ,appo9tm5t ( g5]al c\nsel           
,subsection 7l7 ( section #aa ( ! ,f$]al
 ,res]ve ,act 7#ab ,u4,s4,c4 #bdh7 is   
am5d$ by ins]t+ ,! ,presid5t %all appo9t
 a g5]al c\nsel = ! ,bo>d1 by & ) !     
advice & cons5t ( ! ,s5ate4 ,sections   
#ccde ?r\gh #ccdi;b ( title #e1 ,unit$  
,/ates ,code1 %all n apply to ! g5]al   
c\nsel4 aft] ! p]iod at ! end ( ! fir/  
s5t5ce4  #c4 ,appo9tm5t ( ,f$]al ,res]ve
 bank presid5ts  7a7 ,9 g5]al ,! fif?   

p>agraph ( ! f\r? un5um]at$ p>agraph (  
section #d ( ! ,f$]al ,res]ve ,act 7#ab 
,u4,s4,c4 #cda7 is am5d$-- 7#a7 9 ! fir/
 s5t5ce1 by /rik+ presid5t1 vice        
presid5ts1 & ins]t+ vice presid5ts2     
7#b7 9 ! second s5t5ce1 by /rik+ ,class 
,b & ,class ,c directors ( ! bank1 ) !  
approval ( ! ,bo>d ( ,gov]nors ( !      
,f$]al ,res]ve ,sy/em1 = a t]m ( #e ye>s
 & ins]t+ ,presid5t ( ! ,unit$ ,/ates   
7by & ) ! advice & cons5t ( ! ,s5ate7 = 
a t]m ( #e ye>s2  7#c7 by /rik+ ! ?ird  
s5t5ce & ins]t+ ,! fir/ vice presid5t ( 
! bank %all be appo9t$ by ! ,class ,b & 
,class ,c bo>d ( directors ( ! bank = a 
t]m ( #e ye>s1 & %all1 9 ! abs5ce or    
disability ( ! presid5t or dur+ a       
vacancy 9 ! (fice ( ! presid5t1 s]ve z  
*ief executive (fic] ( ! bank1 until a  
nom9ee = presid5t is confirm$ by !      
,s5ate or ! ,presid5t ( ! ,unit$ ,/ates 
appo9ts an act+ presid5t "u sections    
#ccde ?r\gh #ccdi;b ( title #e1 ,unit$  
,/ates ,code42  7#d7 9 ! f\r? s5t5ce1 by
 /rik+ ! presid5t or 2  7#e7 by ins]t+  

,a presid5t may cont9ue to s]ve aft] !  
expiration ( ! t]m ( (fice to :i* !     
presid5t 0 appo9t$ until ! e>li] ( !    
date on :i* a successor has be5 appo9t$ 
& qualifi$1 ! date on :i* ! next session
 ( ,congress subsequ5t to ! expiration (
 su* t]m expires1 or ! date on :i* !    
,presid5t ( ! ,unit$ ,/ates removes !   
presid5t4 ,no appo9t$ presid5t %all s]ve
 m ?an a total ( #aj ye>s1 n includ+ any
 su* cont9uation 9 s]vice4 aft] ! p]iod 
at ! end ( ! f\r? s5t5ce2 &  7#f7 by    
ins]t+ ,! presid5t %all h _! prim>y     
resid5ce & pr9cipal place ( bus9ess     
locat$ 9 t ,f$]al ,res]ve di/rict = n   
few] ?an #d ye>s be=e ! date on :i* !   
,presid5t nom9ates ! individual to be   
presid5t ( ! ,f$]al ,res]ve bank = t    
,f$]al ,res]ve di/rict4 aft] ! p]iod at 
! end ( ! fif? s5t5ce1 z add$ by        
p>agraph 7#e7 ( ?is subsection4  7b7    
,susp5sion or removal ( (fic]s ,section 
#aa7;f7 ( ! ,f$]al ,res]ve ,act 7#ab    
,u4,s4,c4 #bdh7;f77 is am5d$ by ins]t+  
7except ! presid5t7 aft] res]ve bank4   

7c7 ,applicability ,sections #ccde ?r\gh
 #ccdi;b ( title #e1 ,unit$ ,/ates      
,code1 %all apply to presid5ts ( ,f$]al 
,res]ve banks 9 ! same mann] z (fic]s ( 
,executive ag5cies4  #d4 ,f$]al res]ve  
di/ricts  7a7 ,9 g5]al ,section #b ( !  
,f$]al ,res]ve ,act 7#ab ,u4,s4,c4 #bbb7
 is am5d$ by /rik+ ! fir/ undesignat$   
p>agraph & ins]t+ ! foll[+3  ,!         
cont95tal ,unit$ ,/ates %all be divid$  
into #e ,f$]al ,res]ve di/ricts4 ,!     
,fir/ ,f$]al ,res]ve ,di/rict %all be   
compos$ ( ,ma9e1 ,new ,hamp%ire1        
,v]mont1 ,massa*usetts1 ,rhode ,isl&1   
,connecticut1 ,new ,york1 ,p5nsylvania1 
,new ,j]sey1 ,delaw>e1 ! ,commonweal? ( 
,pu]to ,rico1 & ! ,unit$ ,/ates ,virg9  
,isl&s1 ) ! city ( ,new ,york1 ,new     
,york1 z ! location ( ! ,f$]al ,res]ve  
bank4 ,! ,second ,f$]al ,res]ve ,di/rict
 %all be compos$ ( ,ohio1 ,we/ ,virg9ia1
 ,virg9ia1 ,m>yl&1 ,mi*igan1 ,indiana1  
,k5tucky1 ,ill9ois1 ,wiscons91          
,m9nesota1 & ! ,di/rict ( ,columbia1 ) !
 city ( ,clevel&1 ,ohio1 z ! location ( 

! ,f$]al ,res]ve bank4 ,! ,?ird ,f$]al  
,res]ve ,di/rict %all be compos$ (      
,miss\ri1 ,kansas1 ,oklahoma1 ,colorado1
 ,wyom+1 ,nebraska1 ,i[a1 ,nor? ,dakota1
 ,s\? ,dakota1 & ,montana1 ) ! city (   
,kansas ,city1 ,miss\ri1 z ! location ( 
! ,f$]al ,res]ve bank4 ,! ,f\r? ,f$]al  
,res]ve ,di/rict %all be compos$ (      
,texas1 ,arkansas1 ,l\isiana1           
,mississippi1 ,alabama1 ,t5nessee1      
,georgia1 ,nor? ,c>ol9a1 ,s\? ,c>ol9a1 &
 ,florida1 ) ! city ( ,dallas1 ,texas1 z
 ! location ( ! ,f$]al ,res]ve bank4 ,! 
,fif? ,f$]al ,res]ve ,di/rict %all be   
compos$ ( ,cali=nia1 ,oregon1 ,wa%+ton1 
,alaska1 ,hawaii1 ,idaho1 ,nevada1      
,utah1 ,arizona1 ,new ,mexico1 ,guam1   
,am]ican ,samoa1 & ! ,nor!rn ,m>iana    
,isl&s1 ) ! city ( ,san ,francisco1     
,cali=nia1 z ! location ( ! ,f$]al      
,res]ve bank4 ,e national bank 9 any    
,/ate %all1 ^u comm5c+ bus9ess1 become a
 memb] bank ( ! ,f$]al ,res]ve ,sy/em by
 subscrib+ & pay+ = /ock 9 ! ,f$]al     
,res]ve bank ( its di/rict 9 accordance 

) ! provisions ( ?is ,act & %all !reupon
 be an insur$ bank "u ! ,f$]al ,deposit 
,insurance ,act1 & failure to d s %all  
subject su* bank to ! p5alty provid$ by 
! six? p>agraph ( ?is section4  4  7b7  
,f$]al ,op5 ,m>ket ,committee ,section  
#ab;,a ( ! ,f$]al ,res]ve ,act 7#ab     
,u4,s4,c4 #bfc7 is am5d$ by /rik+       
subsection 7a7 & ins]t+ ! foll[+3  7a7  
,!re is h]eby creat$ a ,f$]al ,op5      
,m>ket ,committee 7h]e9aft] ref]r$ to z 
! ,committee71 :i* %all consi/ ( !      
memb]s ( ! ,bo>d ( ,gov]nors ( ! ,f$]al 
,res]ve ,sy/em & ! *ief executive (fic]s
 ( ! #e ,f$]al ,res]ve banks4  4  7c7   
,te*nical & con=m+ am5dm5ts  7#a7       
,section #aa ( ! ,f$]al ,res]ve ,act    
7#ab ,u4,s4,c4 #bdh7 is am5d$ by /rik+  
subsection 7e74  7#b7 ,section #af ( !  
,f$]al ,res]ve ,act 7#ab ,u4,s4,c4 #dac7
 is am5d$1 9 ! ?ird s5t5ce1 by /rik+    
twelve & ins]t+ #e4  #e4 ,bo>d (        
,gov]nors ( ! ,f$]al ,res]ve ,sy/em     
,section #aj ( ! ,f$]al ,res]ve ,act    
7#ab ,u4,s4,c4 #bda7 is am5d$--  7#a7 9 

! second s5t5ce1 by /rik+ "o ( :om %all 
be select$ f & ins]t+ #b ( :om may be   
resid5ts (2 &  7#b7 by ins]t+ ,9 ?is    
p>agraph1 ! t]m resid5t ( any "o ,f$]al 
,res]ve di/rict means an individual ^:  
prim>y resid5ce & pr9cipal place (      
bus9ess has be5 locat$ 9 a ,f$]al       
,res]ve di/rict = n few] ?an #d ye>s    
be=e ! date on :i* ! ,presid5t nom9ates 
! individual z a memb] ( ! ,bo>d4 aft] !
 p]iod at ! end ( ! f\r? s5t5ce4  #f4   
,lobby+ ) moneys ,! ,f$]al ,res]ve ,act 
is am5d$ by ins]t+ aft] section #ae 7#ab
 ,u4,s4,c4 #cia et seq47 ! foll[+3      
#ae;,a4 ,lobby+ ) moneys ,no "p ( !     
income1 int]e/1 fees1 money1 or o!r     
funds ( ! ,bo>d ( ,gov]nors ( ! ,f$]al  
,res]ve ,sy/em or any ,f$]al ,res]ve    
bank %all1 9 ! abs5ce ( express         
au?orization by ,congress1 be us$       
directly or indirectly to pay = any     
p]sonal s]vice1 adv]tisem5t1 telegram1  
telephone1 lett]1 pr9t$ or writt5 matt]1
 or o!r device1 int5d$ or design$ to    
influ5ce 9 any mann] a ,memb] (         

,congress1 a jurisdiction1 or an (ficial
 ( any gov]nm5t1 to favor1 adopt1 or    
oppose1 by vote or o!rwise1 any         
legislation1 law1 ratification1 policy1 
or appropriation1 :e!r be=e or aft] !   
introduction ( any bill1 measure1 or    
resolution propos+ su* legislation1 law1
 ratification1 policy1 or appropriation2
 b ?is %all n prev5t (fic]s or employees
 ( ! ,f$]al ,res]ve ,sy/em f communicat+
 to any su* ,memb] or (ficial1 at 8     
reque/1 or to ,congress or su* (ficial1 
?r\gh ! prop] (ficial *annels1 reque/s =
 any legislation1 law1 ratification1    
policy1 or appropriations :i* !y deem   
necess>y = ! effici5t conduct ( ! public
 bus9ess1 or f mak+ any communication ^:
 prohibition by ?is section might1 9 !  
op9ion ( ! ,attorney ,g5]al1 violate !  
,con/itution or int]f]e ) ! conduct (   
=eign policy1 c\nt]-intellig5ce1        
intellig5ce1 or national security       
activities4 ,violations ( ?is section   
%all con/itute violations ( section     
#aceb7;a7 ( title #ca1 ,unit$ ,/ates    

,code4  4