,,ii  #aai? ,,congress  #a/ ,session    
,s4 #cdgf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ae1 #bjbe,mr4
 ,gallego 7= himself & ,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$]al ,res]ve ,act  
to codify mod]n communication practices1
 enhance transp>5cy1 & improve          
acc\ntability )9 ! ,f$]al ,res]ve       
,sy/em1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,f$     
,=w>d ,act ( #bjbe4  #b4 ,s5se (        
,congress  7a7 ,s5se ( ,congress ,x is !
 s5se ( ,congress t-- 7#a7 ! role1      
/ructure1 & communication practices ( ! 
,f$]al ,res]ve ,sy/em h evolv$          
significantly s9ce e/abli%m5t ( ! ,f$]al
 ,res]ve ,sy/em 9 #aiac1 ) ,congress    
p]iodically updat+ ! ,f$]al ,res]ve ,act
 7#ab ,u4,s4,c4 #bbf et seq47 to respond
 to *ang+ economic conditions & policy  
priorities & to incorporate lessons     
le>n$ & be/ practices2  7#b7 !          

communication practices ( ! ,f$]al      
,res]ve ,sy/em h %ift$ f limit$         
disclosure to great] transp>5cy ?r\gh   
regul> ann\ncem5ts1 press conf]5ces1 &  
projections1 :i* has improv$ public     
und]/&+ ( monet>y policy & help$ to     
an*or inflation expectations2  7#c7 cle>
 & consi/5t communication /r5g!ns !     
ability ( ! ,f$]al ,res]ve ,sy/em to    
a*ieve its congressionally m&at$ goals (
 price /ability1 maximum employm5t1 &   
/able long-t]m int]e/ rates by r$uc+    
unc]ta9ty1 enhanc+ ! effectiv5ess (     
policy1 & support+ in=m$ decision-mak+  
by h\seholds & bus9esses2 &  7#d7       
,congress %\ld codify mod]n1 effective  
communication practices & acc\ntability 
/&>ds t reflect lessons le>n$ & support 
! long-t]m cr$ibility & effectiv5ess ( !
 ,f$]al ,res]ve ,sy/em to promote good  
gov]nance1 public tru/1 & in/itutional  
resili5ce4  #c4 ,transp>5cy 9           
,communication ,section #ab;,a ( !      
,f$]al ,res]ve ,act 7#ab ,u4,s4,c4 #bfc7
 is am5d$-- 7#a7 9 subsection 7a71 9 !  

fif? s5t5ce1 by /rik+ at lea/ f\r times 
ea* ye> & ins]t+ once e #h weeks1 or m  
(t5 z ne$$12 &  7#b7 by add+ at ! end ! 
foll[+3  7d7 7#a7 ,on ! day ( ea* meet+ 
describ$ 9 ! fif? s5t5ce ( subsection   
7a71 ! ,committee %all release to !     
public a policy /atem5t conta9+         
in=mation on ! curr5t /ate ( ! economy &
 h[ x relates to monet>y policy & !     
level ( ! ,f$]al funds t>get range1 &   
%all hold a press conf]5ce1 dur+ :i* !  
,*air1 or an individual delegat$ by !   
,*air1 %all be available to answ]       
que/ions4  7#b7 ,n lat] ?an #ba days    
aft] ! conclusion ( ea* meet+ describ$ 9
 p>agraph 7#a71 ! ,committee %all       
release ! m9utes ( ! meet+ to ! public4 
4  #d4 ,monet>y ,policy ,framework      
,review ,! ,f$]al ,res]ve ,act 7#ab     
,u4,s4,c4 #bbf et seq47 is am5d$ by add+
 at ! end ! foll[+3  #cc4 ,monet>y      
,policy ,framework ,review ,n lat] ?an  
#e ye>s aft] ! date ( enactm5t ( ?is    
section1 & e #e ye>s !reaft]1 ! ,bo>d ( 
,gov]nors %all p]=m a public review ( ! 

monet>y policy framework ( ! ,f$]al     
,res]ve ,sy/em1 includ+ ! /rategy1      
tools1 & communications ! ,bo>d (       
,gov]nors uses to a*ieve ! policy       
describ$ 9 section #b;,a4  4  #e4       
,f9ancial ,/ability ,report ,! ,f$]al   
,res]ve ,act 7#ab ,u4,s4,c4 #bbf et     
seq471 z am5d$ by section #d1 is fur!r  
am5d$ by add+ at ! end ! foll[+3  #cd4  
,f9ancial ,/ability ,report ,n lat] ?an 
#ahj days aft] ! date ( enactm5t ( ?is  
section1 & e #ahj days !reaft]1 ! ,bo>d 
( ,gov]nors %all prep>e & release to !  
public a ,f9ancial ,/ability ,report t  
summ>izes ! framework us$ by ! ,bo>d (  
,gov]nors to assess ! resili5ce ( !     
f9ancial sy/em ( ! ,unit$ ,/ates &      
pres5ts a curr5t assessm5t ( ! resili5ce
 ( ! f9ancial sy/em ( ! ,unit$ ,/ates4  
4