1. Short title This Act may be cited as the Financial Stability Oversight Council Reform Act . 2. Funding (a) In general Section 155 of the Financial Stability Act of 2010 ( 12 U.S.C. 5345 ) is amended— (1) in subsection (b)— (A) in paragraph (1), by striking be immediately available to the Office and inserting be available to the Office, as provided for in appropriation Acts ; (B) by striking paragraph (2); and (C) by redesignating paragraph (3) as paragraph (2); and (2) in subsection (d), by amending the heading to read as follows: Assessment schedule.— . (b) Effective date The amendments made by this section shall take effect on October 1, 2017. 3. Quarterly reporting Section 153 of the Financial Stability Act of 2010 ( 12 U.S.C. 5343 ) is amended by adding at the end the following: (g) Quarterly reporting (1) In general Not later than 60 days after the end of each quarter, the Office shall submit reports on the Office’s activities to the Committees on Appropriations of the House of Representatives and the Senate, the Committee on Financial Services of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate. (2) Contents The reports required under paragraph (1) shall include— (A) the obligations made during the previous quarter by object class, office, and activity; (B) the estimated obligations for the remainder of the fiscal year by object class, office, and activity; (C) the number of full-time equivalents within the Office during the previous quarter; (D) the estimated number of full-time equivalents within each office for the remainder of the fiscal year