POSITIONS OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ON THE EXECUTIVE SCHEDULE.

SEC. 1002. POSITIONS OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ON THE EXECUTIVE SCHEDULE. (a) In General.— (1) Positions at level i of the executive schedule.—Section 5312 of title 5, United States Code, is amended by adding at the end the following: “Chairman, Board of Governors of the Federal Reserve System.”. (2) Positions at level II of the executive schedule.—Section 5313 of title 5, United States Code, is amended— (A) by striking “Chairman, Board of Governors of the Federal Reserve System.”; and (B) by adding at the end the following: “Members, Board of Governors of the Federal Reserve System.”. (3) Positions at level III of the executive schedule.—Section 5314 of title 5, United States Code, is amended by striking “Members, Board of Governors of the Federal Reserve System.”. (b) Effective Date.—This section and the amendments made by this section shall take effect on the first day of the first pay period for the Chairman and Members of the Board of Governors of the Federal Reserve System beginning on or after the date of the enactment of this Act.