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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8287 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                                H. R. 8287

  To require the Board of Governors of the Federal Reserve System to 
 issue a rule relating to stress capital buffer requirements, and for 
                            other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 8, 2024

   Mr. Barr introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL

 
  To require the Board of Governors of the Federal Reserve System to 
 issue a rule relating to stress capital buffer requirements, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stress Testing Accountability and 
Transparency Act''.

SEC. 2. RULEMAKING RELATED TO STRESS CAPITAL BUFFER REQUIREMENTS.

    (a) In General.--Not later than 90 days after the date of the 
enactment of this section, the Board of Governors of the Federal 
Reserve System (in this Act referred to as the ``Board'') shall issue a 
rule to establish any models, assumptions, formulas, or other 
decisional methodologies that are used to determine any component or 
subcomponent of the stress capital buffer requirement for a bank 
holding company.
    (b) Changes.--The Board may only make changes to the rule issued 
under subsection (a) through notice and comment rulemaking.
    (c) Stress Capital Buffer Requirement Defined.--The term ``stress 
capital buffer requirement'' has the meaning given the term in section 
225.8(c) of title 12 of the Code of Federal Regulations.

SEC. 3. RULEMAKING RELATING TO STRESS TESTING.

    (a) In General.--Beginning in the first calendar year after the 
date of the enactment of this section, the Board shall, not less than 
30 days before conducting a stress test pursuant to section 165(i) of 
the Financial Stability Act of 2010, issue a rule to establish each 
scenario used to be used in such stress test.
    (b) Prohibition.--The Board may not, by rule or otherwise, subject 
any nonbank financial company to a climate-related stress test using 
the authority provided in section 165(i) of the Financial Stability Act 
of 2010.

SEC. 4. GAO REPORT.

    (a) In General.--The Comptroller General of the United States 
shall, every 3 years, conduct a study and submit a report to the 
Congress with respect to the stress tests conducted by the Board under 
section 165(i) of the Financial Stability Act of 2010 in the 3 most 
recent calendar years.
    (b) Contents.--The report submitted to the Congress under 
subsection (a) shall--
            (1) evaluate whether the stress tests are sufficiently 
        robust and promote preparedness; and
            (2) consider whether the stress tests adequately identify 
        salient risks to--
                    (A) the safety and soundness of the nonbank 
                financial institutions subjected to stress tests; and
                    (B) the stability of the United States financial 
                system.
                                 <all>
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