US HB3173

Amends the Federal Reserve Act to expand annual reporting requirements for the Board of Governors of the Federal Reserve System

Requires each Federal Reserve bank to report annual expenditures and full-time equivalent employees across seven categories: supervision of financial institutions, legal functions, operations (currency/clearing/payment services), financial stability and open market operations, administrative functions, economic research, and international engagement with bodies like the Bank for International Settlements and Basel Committee

Mandates disclosure of the three most important research areas by expenditure and staffing for both the Board of Governors and each regional Federal Reserve bank

Requires reporting of annual expenditures dedicated to each proposed or finalized rule, guidance, and policy statement

Takes effect 2 years after enactment