Federal Reserve Transparency Act of 2025

This bill, titled the Federal Reserve Transparency Act of 2025, mandates a comprehensive audit of the Board of Governors of the Federal Reserve System and all Federal Reserve banks. The Comptroller General of the United States is required to complete this audit within 12 months of the bill's enactment, overriding any existing statutory limitations on such reviews. Following the audit's completion, the Comptroller General must submit a detailed report to Congress within 90 days. This report will outline the audit's findings, conclusions, and any recommended legislative or administrative actions, and will be made publicly available to various congressional leaders and any requesting Member of Congress. The legislation also repeals specific language in current law that previously limited the scope of Federal Reserve audits, thereby expanding the Comptroller General's oversight authority. Additionally, it includes technical and conforming amendments to ensure consistency with the new, broader audit requirements, particularly concerning the definition and auditability of certain Federal Reserve programs or facilities.