senateStanding
Banking, Housing, and Urban Affairs Committee
- Referred To
← Back to federal legislation
S. 1648In committee
Right-size the Federal Reserve Act
Introduced: May 7, 2025
Latest action date: May 7, 2025
Latest development
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Your view
- Congress
- 119th Congress
- Introduced
- May 7, 2025
- Recorded roll calls
- 0
Status detail: The most advanced recorded stage is committee consideration.
Plain-language overview
What this bill does
Right-size the Federal Reserve Act
This bill places restrictions on the Federal Reserve System, including by placing a cap on specified assets, eliminating a Federal Reserve Board facility, and setting forth conditions on bank reserve requirements.
The bill places a cap on the total aggregate assets of all Federal Reserve banks. Specifically, these assets must not amount to more than 10% of the U.S. gross domestic product. This cap takes effect 10 years after the bill’s enactment.
The bill also eliminates the Overnight Reverse Repurchase Facility, a board facility that conducts monetary policy through security repurchase agreements.
The board’s depository institution reserves requirements must not be lower than the reserve requirements as of March 25, 2020. The board and each Federal Reserve bank must annually report on certain interest payments to foreign-owned banks and financial institutions.
Civixly topics
What this legislation is about
Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.
Official CRS policy area
Finance and Financial Sector
Committee activity
Committees and subcommittees that received, reviewed, marked up, or reported this legislation.
Official committee record ↗
Amendments
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
No amendments are listed for this measure.
Checked against Congress.gov Sep 15, 2026.
Action timeline
Newest action first. Action language comes from the official Congress.gov record.
View full action timeline2 actions
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
IntroReferralSenateIntroduced in Senate
IntroReferralLibrary of Congress
Roll-call votes
Recorded House and Senate votes connected to this bill. Your representatives appear first when available.
No connected roll-call votes are currently available for this bill.
Discussion
0 comments
Sign in to join the discussion.Comments are publicly visible.
Loading comments...