; and (ii) be made publicly available on the website of the Board. . (e) Term limits; review The fifth paragraph of the fourth unenumerated paragraph of section 4 of the Federal Reserve Act ( 12 U.S.C. 341 ) is amended by inserting ‘‘A president may continue to serve after the expiration of the term of office to which the president was appointed until the earlier of the date on which a successor has been appointed and qualified, the date on which the next session of Congress subsequent to the expiration of such term expires, or the date on which the President of the United States removes the president. No appointed president shall serve more than a total of 10 years, not including any such continuation in service. The Board of Governors of the Federal Reserve System, in consultation with the relevant Reserve bank board of directors, shall initiate a review of the Reserve bank president and vice President and the appropriateness of their removal in the event of a bank failure in the Reserve district. The Board of Governors shall also publish the results of the review not later than 90 days following the bank failure.’’ after the period at the end of the fourth sentence. 5. Federal Reserve ethics Section 4 of the Federal Reserve Act, as amended by section 4(b) of this Act, is amended by adding at the end the following: Each director, president, and vice president shall comply with the same rules for investment and trading activity prescribed by the Board of Governors of the Federal Reserve System. Each director shall disclose any financial interest in the same manner as presidents. Each Federal reserve bank shall publicly disclose and explain any rationale for waivers granted to directors from conflict of interest rules. The Comptroller General of the United States shall annually review conflict of interest rules of the Federal reserve banks and the Board of Governors of the Federal Reserve System and implementation of and compliance with such rules. .