Enhancing Financial Stability Research and Oversight Act

(1) in section 152—

(A) by amending subsection (c) to read as follows:

The Director shall have sole discretion to establish the annual budget of the Office.

The annual budget of the Office in any given fiscal year shall not be less than $124,627,000.

The dollar amount referred to in paragraph (2) shall be adjusted annually by the Director, using the percent increase (if any) in the employment cost index for total compensation for State and local government workers published by the Federal Government, or the successor index thereto, for the 12-month period ending September 30 of the year preceding the annual budget.

(B) in subsection (d)—

(i) by striking, in consultation with the Chairperson, each place such term appears; and

(ii) in paragraph (1), by striking may fix the number of, and appoint and inserting shall ensure that the Office has not less than 231 full-time equivalent positions, and may appoint;

(C) in subsection (h), by striking, in consultation with the Chairperson,; and

(D) in subsection (i), by striking, in consultation with the Chairperson,; and

(2) in section 155—

(A) in subsection (d), by inserting before the period the following:, as determined in the sole discretion of the Director; and

(B) by adding at the end the following:

Notwithstanding any other provision of this subtitle, the funding pursuant to subsection (d) shall not be subject to review by the Committees on Appropriations of the House of Representatives and the Senate.

Nothing in this section shall authorize the Secretary to influence the budget or the number or compensation of employees of the Office.

Section 111 of the Financial Stability Act of 2010 (12 U.S.C. 5321) is amended by adding at the end the following:

The Chairperson of the Council shall ensure that the Council has not less than 48 full-time equivalent positions, not including any employees detailed pursuant to subsection (j).

Section 118 of the Financial Stability Act of 2010 (12 U.S.C. 5328) is amended to read as follows:

The Office of Financial Research shall transfer to the Council the amount of funds necessary to pay for the expenses of the Council, and the Council may immediately use such funds.

The Office of Financial Research shall transfer not less than $15,287,000 to the Council each year to pay for the staffing and other expenses of the Council, including for the office of the independent member of the Council described under section 111(b)(1)(J). Such dollar amount shall be adjusted annually by the Chairperson of the Council, using the percent increase (if any) in the employment cost index for total compensation for State and local government workers published by the Federal Government, or the successor index thereto, for the 12-month period ending September 30 of the previous year.