What does Preamble of Right-size the Federal Reserve Act do?

This bill is formally titled 'To limit the total assets of Federal reserve banks, and for other purposes.'

What does SHORT TITLE. of Right-size the Federal Reserve Act do?

This bill is formally titled the Right-size the Federal Reserve Act.

What does LIMITATION ON TOTAL ASSETS AND INTEREST PAYMENTS. of Right-size the Federal Reserve Act do?

This section amends the Federal Reserve Act to require annual reports on payments to foreign-owned banks and financial institutions. It modifies reserve requirements, stating they 'shall be not lower than the reserve requirements in effect on March 25, 2020.' The Act establishes a limitation on the total aggregate assets of all Federal reserve banks, capping them at 10 percent of the gross domestic product of the United States. This asset limitation will take effect 10 years after the date of enactment. The Board of Governors must eliminate the Overnight Reserve Repurchase Facility within one year of enactment and cannot create a similar facility. The Board of Governors is required to submit annual reports to Congress detailing its plan and timeline for meeting the requirements of this section.

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Right-size the Federal Reserve Act

Last updated: 5/7/2025 · Introduced: 5/7/2025

Author: Rick Scott (R-FL)

TL;DR (AI)

This bill caps the total assets of all Federal Reserve banks at 10 percent of the U.S. gross domestic product, effective 10 years after enactment.
The bill mandates that reserve requirements cannot be lower than those in effect on March 25, 2020.
It eliminates the Overnight Reserve Repurchase Facility and prohibits the Board of Governors from creating a similar facility.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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