H.R. 4116 · 118th Congress
Systemic Risk Authority Transparency Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GreenSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires banking regulators to submit a report to Congress in the event of the failure of an insured depository institution that leads to a systemic risk determination by the Department of the Treasury.
What it does: CRS summary · Introduced in House · Jun 14, 2023
Systemic Risk Authority Transparency Act
This bill requires banking regulators to submit a report to Congress in the event of the failure of an insured depository institution that leads to a systemic risk determination by the Department of the Treasury.
Regulators must report confidential supervisory information relating to the institution, any institutional mismanagement by the executives and the board, any shortcomings by the regulator, and recommendations to improve the safety and soundness of similarly situated institutions. This report must be made no later than 60 days after such a determination and again 180 days afterwards.
The Governmental Accountability Office (GAO) must report on additional factors in its report regarding such a determination. Specifically, GAO must report on any mismanagement by the executives and board of the institution, a review of the institution's compensation practices, supervisory or regulatory shortcomings, actions taken by regulators, and other relevant information. The bill also requires this report to be made no later than 60 days after such a determination and again 180 days afterwards.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Systemic Risk Authority Transparency Act
Latest action (Jul 30, 2024): Placed on the Union Calendar, Calendar No. 512.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.