Board of Governors of the Federal Reserve System Compliance Plan for OMB Memorandum M-25-21

Summary

The Federal Reserve Board's plan for meeting OMB Memorandum M-25-21 and section 104(c) of the AI in Government Act. It states that the Board set up an AI program in early 2024 under the Chief Operating Officer with a Chief AI Officer, that the Office of the Chief Data Officer took over strategic oversight of the program in late 2025, and that the program has two governing bodies: an AI Program Team and an AI Enablement Working Group. High-impact AI use requires the Chief AI Officer's explicit approval. It covers the Board's own AI use, not supervised banks.

Key dates

1. 2025Takes effect
2. October 1, 2025Issued
3. October 16, 2026Checked against sources

Developments are added when the record is reviewed. Next review: January 15, 2027.

Evidence

Each passage is quoted from its source. The quoted passages are re-checked against the live pages every month.

1. In late 2025, the Office of the Chief Data Officer took over strategic oversight of the AI Program. The AI Program consists of two governing bodies: an AI Program Team and an AI Enablement Working Group

   Supports: CDO oversight; two governing bodies

   Any high-impact AI use requires explicit CAIO approval.

   Supports: High-impact approval

   Last Update: October 01, 2025

   Supports: Date

   Board of Governors of the Federal Reserve System Compliance Plan for OMB Memorandum M-25-21 Board of Governors of the Federal Reserve System Primary source

2. which directs the Board to submit a biennial AI compliance plan to OMB

   Supports: Biennial plan

   AI Compliance Plan for OMB Memorandum Board of Governors of the Federal Reserve System Primary source