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S 1648 119th Congress Senate Finance and Financial Sector

Right-size the Federal Reserve Act

Introduced: May 7, 2025 Introduced by: Scott, Rick Republican · Florida See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 7, 2025
Introduced in Senate
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 Plain-English summary Congressional Research Service

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.   

What's happening now May 7, 2025

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 6

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Cite this page click to expand
APA
U.S. Congress. (2026). S. 1648: Right-size the Federal Reserve Act. 119th Congress. Open America. https://openamerica.io/bill/119-S-1648/
MLA
"S. 1648: Right-size the Federal Reserve Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-1648/.
Bluebook (legal)
S. 1648, 119th Cong. (2026), https://openamerica.io/bill/119-S-1648/.
Markdown link
[S. 1648: Right-size the Federal Reserve Act](https://openamerica.io/bill/119-S-1648/)
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