Enhancing Financial Stability Research and Oversight Act
Summary
What This Bill Does
The Enhancing Financial Stability Research and Oversight Act amends the Financial Stability Act of 2010. It gives the Office of Financial Research Director sole discretion to set the annual OFR budget, with a minimum of $124,627,000 adjusted each year by the employment cost index for state and local government workers. It requires OFR to have at least 231 full-time equivalent positions, removes consultation with the FSOC Chairperson from several OFR personnel and compensation decisions, says OFR funding is not subject to House or Senate Appropriations Committee review, and bars the Treasury Secretary from influencing OFR's budget, number of employees, or compensation. The bill also requires the FSOC Chairperson to ensure at least 48 full-time equivalent positions, excluding detailees, and rewrites FSOC funding so OFR transfers whatever is necessary and at least $15,287,000 each year, adjusted by the same index, for FSOC staffing and expenses including the independent member's office.
Who Benefits and How
Office of Financial Research staff, the OFR Director, FSOC staff, the FSOC independent member, systemic-risk researchers, and financial stability oversight advocates benefit from budget floors, staffing floors, inflation adjustments, and protection from Treasury or appropriations pressure. Congress and regulators benefit from a better-resourced research and oversight apparatus for financial stability risks.
Who Bears the Burden and How
Treasury leadership, House and Senate Appropriations Committees, OFR budget staff, FSOC budget staff, and financial firms subject to better-resourced systemic-risk oversight bear burdens. OFR must fund at least 231 FTEs and transfer at least $15.287 million annually to FSOC, while Treasury loses influence over OFR budget and compensation decisions.
Key Provisions
- Requires the OFR Director to have sole discretion over the OFR annual budget.
- Sets an OFR minimum budget of $124.627 million with annual employment-cost-index adjustment.
- Requires OFR to maintain at least 231 full-time equivalent positions.
- Blocks appropriations committee review of OFR funding and bars Treasury influence over OFR budget, staffing, and compensation.
- Requires FSOC to maintain at least 48 full-time equivalent positions excluding detailees.
- Requires OFR to transfer at least $15.287 million annually, adjusted for employment costs, to fund FSOC staffing and expenses.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Locks in independent Office of Financial Research funding and staffing, sets an OFR budget floor of $124.627 million and 231 FTEs, shields OFR funding from appropriations committee review and Treasury influence, and requires FSOC to maintain at least 48 FTEs with at least $15.287 million transferred annually from OFR.
Key Policy Areas
Financial Services, Government
Primary Purpose
Locks in independent Office of Financial Research funding and staffing, sets an OFR budget floor of $124.627 million and 231 FTEs, shields OFR funding from appropriations committee review and Treasury influence, and requires FSOC to maintain at least 48 FTEs with at least $15.287 million transferred annually from OFR.
Policy Domains
Substantive provisions
Identified Gains
- Office of Financial Research staff
- OFR Director
- FSOC staff
- FSOC independent member
- Systemic-risk researchers
- Financial stability oversight advocates
Identified Costs
- Treasury leadership
- House Appropriations Committee
- Senate Appropriations Committee
- OFR budget staff
- FSOC budget staff
- Financial firms under oversight
Sponsors
Legislative Progress
In CommitteeReferred to the House Committee on Financial Services.
Introduced in House
Mr. Foster (for himself, Mr. Sherman, Mrs. Beatty, Mr. Casten, …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
FSOC staff, Financial firms under oversight, OFR budget staff
Positive-direction: FSOC staff, Office of Financial Research staff
Negative-direction: Financial firms under oversight, OFR budget staff
FSOC independent member, House Appropriations Committee, OFR Director
Positive-direction: FSOC independent member, OFR Director
Negative-direction: House Appropriations Committee, Treasury leadership
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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