Establishing processes and procedures for protecting Federal Reserve information

(a) In general The Director of National Intelligence, in coordination with the Director of the Federal Bureau of Investigation, and in consultation with the relevant heads of the elements of the intelligence community, as determined by the Directors, shall— (1) brief the Board of Governors of the Federal Reserve System on foreign threats to the Federal Reserve System; and (2) work with the Chair of the Board of Governors of the Federal Reserve System to create and implement standardized security and classification measures for protecting information collected, generated, and stored by the Federal Reserve System. (b) Report Not later than 180 days after the date of the enactment of this Act, the Director of National Intelligence, the Director of the Federal Bureau of Investigation, and the Chair of the Board of Governors of the Federal Reserve System shall jointly submit to the appropriate congressional committees a report detailing the status of implementing the security measures described in subsection (a). (c) Appropriate congressional committees defined In this section, the term appropriate congressional committees means— (1) the congressional intelligence committees; (2) the Committee on the Judiciary and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (3) the Committee on the Judiciary and the Committee on Financial Services of the House of Representatives.