United States 117th Congress Status: In Committee 1 R cosponsors

S 4889 — Federal Reserve Loss Transparency Act

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

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

4 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill introduces a prohibition on transfers to the Bureau during periods of operating losses at the Federal Reserve banks and mandates the use of GAAP for calculating earnings and total capital.

  • 12 U.S.C. § 5497(a)

    (3) Prohibition on transfer when the federal reserve banks incur a loss.--Notwithstanding paragraph (1), no transfer may be made to the Bureau if the Federal reserve banks, in the aggregate, incurred an operating loss in the most recently completed calendar quarter until the loss is offset with subsequent earnings.

    This addition prevents funding the Bureau when the Federal Reserve banks report a loss.

  • 12 U.S.C. § 290

    subsection (b) → subsection (c)

    This redesignation updates the sequence of subsections in the statute.

  • 12 U.S.C. § 531

    subsection (c) → subsection (d)

    This redesignation updates the sequence of subsections in the statute.

  • 12 U.S.C. § 290

    (e) Calculation of Net Earnings and Total Capital Using GAAP.--For purposes of this section, earnings and total capital shall be calculated in accordance with United States generally accepted accounting principles.

    This addition ensures earnings are reported based on GAAP.

Action History

  1. Introduced in Senate

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

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

Who sponsors S 4889?
S 4889 is sponsored by Hagerty, Bill (Republican).
What is the current status of S 4889?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 4889?
Track S 4889 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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