S. 2409 — ROI of the Federal Reserve Act

This bill establishes requirements for Federal Reserve System investments, accounting standards, and reports. Under the bill, Federal Reserve banks are prohibited from purchasing Treasury bills with a term of maturity of more than three years and mortgage-backed securities. Federal Reserve banks are also prohibited from holding shares of common stock that are acquired on or after the date of enactment of this bill. The Federal Reserve Board, Federal Reserve banks, and the Federal Open Market Committee must use generally accepted accounting principles and specified valuation methods in certain filings, reports, and audits. Finally, the board and Federal Reserve banks must annually report t...