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Systemic Risk Authority Transparency Act

USA118th CongressHR-4116| House 
| Updated: 7/30/2024
Al Green

Al Green

Democratic Representative

Texas

Cosponsors (2)
Joyce Beatty (Democratic)Brad Sherman (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.

Bill Text Versions

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Timeline
Jun 14, 2023
Introduced in House
Jun 14, 2023
Referred to the House Committee on Financial Services.
Apr 17, 2024
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 50 - 0.
Apr 17, 2024
Committee Consideration and Mark-up Session Held
Jul 30, 2024
Placed on the Union Calendar, Calendar No. 512.
Jul 30, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-614.
  • June 14, 2023
    Introduced in House


  • June 14, 2023
    Referred to the House Committee on Financial Services.


  • April 17, 2024
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 50 - 0.


  • April 17, 2024
    Committee Consideration and Mark-up Session Held


  • July 30, 2024
    Placed on the Union Calendar, Calendar No. 512.


  • July 30, 2024
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-614.

Finance and Financial Sector

Banking and financial institutions regulationCongressional oversightGovernment studies and investigations

Systemic Risk Authority Transparency Act

USA118th CongressHR-4116| House 
| Updated: 7/30/2024
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.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 14, 2023
Introduced in House
Jun 14, 2023
Referred to the House Committee on Financial Services.
Apr 17, 2024
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 50 - 0.
Apr 17, 2024
Committee Consideration and Mark-up Session Held
Jul 30, 2024
Placed on the Union Calendar, Calendar No. 512.
Jul 30, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-614.
  • June 14, 2023
    Introduced in House


  • June 14, 2023
    Referred to the House Committee on Financial Services.


  • April 17, 2024
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 50 - 0.


  • April 17, 2024
    Committee Consideration and Mark-up Session Held


  • July 30, 2024
    Placed on the Union Calendar, Calendar No. 512.


  • July 30, 2024
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-614.
Al Green

Al Green

Democratic Representative

Texas

Cosponsors (2)
Joyce Beatty (Democratic)Brad Sherman (Democratic)

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Banking and financial institutions regulationCongressional oversightGovernment studies and investigations