Sec. 1007. Salaries, financial disclosures, and office staff of the Board of Governors of the Federal Reserve System
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Section 11 of the Federal Reserve Act ( 12 U.S.C. 248 ) is amended— by redesignating the second subsection
(s)(relating to Assessments, Fees, and Other Charges for Certain Companies ) as subsection (t); and by inserting before subsection (w), as added by section 371(a), the following new subsections: The members and employees of the Board of Governors of the Federal Reserve System shall be subject to the provisions under section 4401.102 of title 5, Code of Federal Regulations, to the same extent as such provisions apply to an employee of the Securities and Exchange Commission. The members and employees of the Board of Governors of the Federal Reserve System shall— disclose all brokerage accounts that the member or employee maintains, as well as any accounts in which the member or employee controls trading or has a financial interest (including managed accounts, trust accounts, investment club accounts, and accounts of spouses or minor children who live with the member or employee); and with respect to any securities account that the member or employee is required to disclose to the Board of Governors, authorize the brokers and dealers of such account to send duplicate account statements directly to Board of Governors. The members and employees of the Board of Governors of the Federal Reserve System shall be subject to the prohibitions related to outside employment and activities described under section 4401.103(c) of title 5, Code of Federal Regulations, to the same extent as such prohibitions apply to an employee of the Securities and Exchange Commission. The members and employees of the Board of Governors of the Federal Reserve System shall be subject to— the employee responsibilities and conduct regulations of the Office of Personnel Management under part 735 of title 5, Code of Federal Regulations; the canons of ethics contained in subpart C of part 200 of title 17, Code of Federal Regulations, to the same extent as such subpart applies to the employees of the Securities and Exchange Commission; and the regulations concerning the conduct of members and employees and former members and employees contained in subpart M of part 200 of title 17, Code of Federal Regulations, to the same extent as such subpart applies to the employees of the Securities and Exchange Commission. The Board of Governors of the Federal Reserve System shall make publicly available, on the website of the Board of Governors, a searchable database that contains the names of all members, officers, and employees of the Board of Governors who receive an annual salary in excess of the annual rate of basic pay for GS–15 of the General Schedule, and— the yearly salary information for such individuals, along with any nonsalary compensation received by such individuals; and any financial disclosures required to be made by such individuals. . Subsection
(l)of section 11 of the Federal Reserve Act ( 12 U.S.C. 248 ) is amended by adding at the end the following: Each member of the Board of Governors of the Federal Reserve System may employ, at a minimum, 2 individuals, with such individuals selected by such member and the salaries of such individuals set by such member. A member may employ additional individuals as determined necessary by the Board of Governors. .
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Sec. 1007
Salaries, financial disclosures, and office staff of the Board of Governors of the Federal Reserve System
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