To enhance Federal Deposit Insurance Corporation transparency.

Subjects: Finance and Financial Sector


<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3465 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                H. R. 3465

     To enhance Federal Deposit Insurance Corporation transparency.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 18, 2023

  Mr. Barr (for himself and Mr. Loudermilk) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
     To enhance Federal Deposit Insurance Corporation transparency.

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

SECTION 1. FEDERAL DEPOSIT INSURANCE CORPORATION TRANSPARENCY.

    Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. 1823) 
is amended--
            (1) in paragraph (1)(C), by inserting after ``taken'' the 
        following: ``after notification to the Committee on Financial 
        Services of the House of Representatives and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate and'';
            (2) in paragraph (4)--
                    (A) in subparagraph (B)(i)(I), by striking ``a 
                present-value'' and inserting ``an expected present-
                value''; and
                    (B) in subparagraph (G)--
                            (i) in clause (i)--
                                    (I) by inserting ``after 
                                notification to the Committee on 
                                Financial Services of the House of 
                                Representatives and the Committee on 
                                Banking, Housing, and Urban Affairs of 
                                the Senate and'' before ``upon the''; 
                                and
                                    (II) in subclause (II), by striking 
                                ``would'' and inserting ``that can be 
                                shown to'';
                            (ii) in clause (iii)(I), by inserting 
                        before the semicolon the following: ``, 
                        including documentation of factors, empirical 
                        analyses, and data that gave rise to the 
                        determination''; and
                            (iii) by adding at the end the following:
                            ``(vi) Additional reports to congress on 
                        emergency determinations.--
                                    ``(I) In general.--With respect to 
                                each determination under clause (i), 
                                the Board of Directors, the Board of 
                                Governors of the Federal Reserve 
                                System, and the Secretary of the 
                                Treasury shall each provide to the 
                                Committee on Financial Services of the 
                                House of Representatives and the 
                                Committee on Banking, Housing, and 
                                Urban Affairs of the Senate--
                                            ``(aa) not later than 3 
                                        days after such determination, 
                                        all documentation related to 
                                        such determination, including 
                                        staff analyses and memoranda; 
                                        and
                                            ``(bb) not later than 30 
                                        days after such determination, 
                                        any analyses undertaken to 
                                        justify such determination, 
                                        including data, metrics used, 
                                        and quantitative analyses 
                                        undertaken.
                                    ``(II) Information requested by 
                                committees.--The Secretary of the 
                                Treasury shall provide the Committee on 
                                Financial Services of the House of 
                                Representatives and the Committee on 
                                Banking, Housing, and Urban Affairs of 
                                the Senate with such additional 
                                information related to a determination 
                                under clause (i) as the committees may 
                                request. The Secretary of the Treasury 
                                may submit, with such information, a 
                                written request and justification for 
                                the committees to treat the information 
                                confidentially.''; and
            (3) in paragraph (8)(B), after ``in writing'' by inserting 
        ``, shall include details of factors that led to the 
        determination and analyses of those factors and their 
        implications''.
                                 &lt;all&gt;
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