The Systemic Risk Authority Transparency Act aims to enhance transparency and accountability when the systemic risk exception is invoked to resolve a failed insured depository institution. It mandates that both the Government Accountability Office (GAO) and the appropriate Federal banking agency provide comprehensive reports to Congress regarding such events. Specifically, the bill requires the Comptroller General of the United States to conduct a review and report to Congress within 60 days and again 180 days after a systemic risk determination. These reports must detail the basis for the determination, the purpose of any actions taken, the likely effect on institutions and depositors, any mismanagement by executives, compensation practices, and supervisory or regulatory shortcomings. The GAO must also examine actions by various financial regulators and other entities that may have contributed to the institution's failure, including auditing and credit rating agencies. Additionally, the appropriate Federal banking agency for the failed institution must submit a report to Congress within 90 days and again 210 days after the systemic risk determination. This report must disclose examination and inspection reports, formal supervisory determinations from the previous three years, and an examination of mismanagement by the institution's leadership. It also requires an assessment of the agency's own supervisory or regulatory shortcomings, dynamics contributing to the failure, and any recommendations for improving the safety and soundness of the banking system. To balance transparency with the protection of sensitive information, the bill stipulates that while agencies should publish materials to the fullest extent possible, they can redact personally identifiable information and maintain privileges. If an agency determines certain materials should not be published, it must consult with key congressional committees and provide those materials to the committees with a written explanation for the omission. Federal banking agencies may also extend reporting deadlines under specific circumstances related to U.S. banking system stability.