---
kind: "section"
citation: "12 U.S.C. § 5345"
title: "12"
title_heading: "Banks and Banking"
number: "5345"
heading: "Funding"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5345"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter I — Financial Stability"
  - "Part B — Office of Financial Research"
---

# §5345. Funding

- (a) **Financial Research Fund—**
  - (1) **Fund established—** There is established in the Treasury of the United States a separate [fund](/usc/12/5381.md?p=a-12) to be known as the “Financial Research [Fund](/usc/12/5381.md?p=a-12)”.
  - (2) **Fund receipts—** All amounts provided to the [Office](/usc/12/5341.md?p=1) under [subsection (c)](#c),[^1] and all assessments that the [Office](/usc/12/5341.md?p=1) receives under [subsection (d)](#d) shall be deposited into the Financial Research [Fund](/usc/12/5381.md?p=a-12).
  - (3) **Investments authorized—**
    - (A) **Amounts in fund may be invested—** The [Director](/usc/12/5341.md?p=1) may request the [Secretary](/usc/12/5301.md?p=14) to [invest](/usc/12/1861.md?p=b-6) the portion of the Financial Research [Fund](/usc/12/5381.md?p=a-12) that is not, in the judgment of the [Director](/usc/12/5341.md?p=1), required to meet the needs of the [Office](/usc/12/5341.md?p=1).
    - (B) **Eligible investments—** Investments shall be made by the [Secretary](/usc/12/5301.md?p=14) in obligations of the United States or obligations that are guaranteed as to principal and interest by the United States, with maturities suitable to the needs of the Financial Research [Fund](/usc/12/5381.md?p=a-12), as determined by the [Director](/usc/12/5341.md?p=1).
  - (4) **Interest and proceeds credited—** The interest on, and the proceeds from the sale or redemption of, any obligations held in the Financial Research [Fund](/usc/12/5381.md?p=a-12) shall be credited to and form a part of the Financial Research [Fund](/usc/12/5381.md?p=a-12).
- (b) **Use of funds—**
  - (1) **In general—** [Funds](/usc/12/5381.md?p=a-12) obtained by, transferred to, or credited to the Financial Research [Fund](/usc/12/5381.md?p=a-12) shall be immediately available to the [Office](/usc/12/5341.md?p=1), and shall remain available until expended, to pay the expenses of the [Office](/usc/12/5341.md?p=1) in carrying out the duties and responsibilities of the [Office](/usc/12/5341.md?p=1).
  - (2) **Fees, assessments, and other funds not Government funds—** [Funds](/usc/12/5381.md?p=a-12) obtained by, transferred to, or credited to the Financial Research [Fund](/usc/12/5381.md?p=a-12) shall not be construed to be Government [funds](/usc/12/5381.md?p=a-12) or appropriated moneys.
  - (3) **Amounts not subject to apportionment—** Notwithstanding any other provision of law, amounts in the Financial Research [Fund](/usc/12/5381.md?p=a-12) shall not be subject to apportionment for purposes of [chapter 15](/usc/31/chstII/ch15.md) of title 31, or under any other authority, or for any other purpose.
- (c) **Interim funding—** During the 2-year period following July 21, 2010, the [Board of Governors](/usc/12/5301.md?p=3) shall provide to the [Office](/usc/12/5341.md?p=1) an amount sufficient to cover the expenses of the [Office](/usc/12/5341.md?p=1).
- (d) **Permanent self-funding—** Beginning 2 years after July 21, 2010, the [Secretary](/usc/12/5301.md?p=14) shall establish, by regulation, and with the approval of the [Council](/usc/12/5301.md?p=8), an assessment schedule, [including](/usc/12/5301.md?p=18-A) the assessment base and rates, applicable to [bank holding companies](/usc/12/5301.md?p=18-A) with total consolidated assets of $$250,000,000,000[^2] or greater and [nonbank financial companies](/usc/12/5311.md?p=a-4-C) supervised by the [Board of Governors](/usc/12/5301.md?p=3), that takes into account differences among such [companies](/usc/12/5381.md?p=a-5), based on the considerations for establishing the [prudential standards](/usc/12/5301.md?p=13) under [section 5325 of this title](/usc/12/5325.md), to collect assessments equal to the total expenses of the [Office](/usc/12/5341.md?p=1).

## Footnotes

[^1]: So in original. Comma probably should not appear.
[^2]: See Codification and 2018 Amendment notes below.

## Source credit

(Pub. L. 111–203, title I, § 155, July 21, 2010, 124 Stat. 1418; Pub. L. 115–174, title IV, § 401(c)(1)(D), May 24, 2018, 132 Stat. 1358.)

## Notes

### Editorial Notes

### Codification

Amendment by Pub. L. 115–174 was executed to subsec. (d) of this section as it appeared in the enrolled bill for H.R. 4173 (111th Congress, 2d session), which contained the text “$50,000,000,000”. As published in the Statutes at Large for Pub. L. 111–203, text appeared as “50,000,000,000”.

### Amendments

2018—Subsec. (d). Pub. L. 115–174 substituted “$250,000,000,000” for “50,000,000,000”. See Codification note above.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2018 Amendment

Except as otherwise provided, amendment by Pub. L. 115–174 effective 18 months after May 24, 2018, see section 401(d) of Pub. L. 115–174, set out as a note under section 5365 of this title.

### Construction of 2018 Amendment

For construction of amendment by Pub. L. 115–174 as applied to certain foreign banking organizations, see section 401(g) of Pub. L. 115–174, set out as a note under section 5365 of this title.