A bill to provide for annual audits by the Comptroller General of the Federal Reserve Board and the Federal Reserve banks and their branches.

Requires the Comptroller General to make, under such rules and regulations as he shall prescribe, an audit for each fiscal year of the Federal Reserve Board and the Federal Reserve Banks and their branches.

Directs the Comptroller General, at the end of six months after the end of Congress, to report on the results of the audits required by this Act.