H.R. 3044 · 117th Congress
China Financial Threat Mitigation Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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GonzalezSponsor15 cosponsors · 11 D, 4 R
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Spanberger
SM
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Murphy
LC
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Cheney
EC
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Case
TR
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Ryan
JR
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Rutherford
EL
D
Luria
BJ
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Johnson
SW
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Wild
MS
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Sherrill
CF
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Franklin
CA
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Axne
JW
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Wexton
ES
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Slotkin
JP
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Panetta1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires U.S. representatives to certain international bodies to advocate for increased international cooperation to mitigate threats caused by the governance, opacity, or instability of financial intermediation in China.
What it does: CRS summary · Introduced in House · May 7, 2021
China Financial Threat Mitigation Act of 2021
This bill requires U.S. representatives to certain international bodies to advocate for increased international cooperation to mitigate threats caused by the governance, opacity, or instability of financial intermediation in China. (Generally, financial intermediaries provide services, such as accounting and underwriting services, that facilitate financial transactions.)
Specifically, this requirement applies to U.S. representatives to the International Monetary Fund, the Group of 20 (G20), and the Financial Stability Board (a technical body established by the G20 to coordinate the group's agenda).
The bill also requires the Financial Stability Oversight Council within the Department of the Treasury to report annually to Congress on such threats.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: China Financial Threat Mitigation Act of 2021
Latest action (May 7, 2021): Referred to the House Committee on Financial Services.
Policy area: International Affairs · Origin: House · Introduced: May 7, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.