S. 2327 — Federal Reserve Transparency Act of 2025

This section directs the Comptroller General of the United States to conduct and complete an audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks under 31 U.S.C. 714(b) within 12 months of enactment, notwithstanding current audit limitations or other law; requires the Comptroller General to submit a report on the audit's findings, conclusions, and recommendations to specified congressional leaders and members within 90 days after completion; repeals limitations in 31 U.S.C. 714(b) prohibiting Government Accountability Office (GAO) audits of Federal Reserve monetary policy deliberations, open market operations, and transactions with foreign central banks or governments (thus, expanding GAO's audit authority over the Federal Reserve); and makes technical and conforming amendments to 31 U.S.C. 714 and 12 U.S.C. 248(s) (relating to Federal Reserve transparency for certain lending programs) by striking references to repealed provisions and updating definitions of emergency lending facilities.