I 
118TH CONGRESS 
1ST SESSION H. R. 4116 
To amend the Federal Deposit Insurance Act to require reports on the 
use of the systemic risk authority applicable to winding up a failed 
insured depository institution, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 14, 2023 
Mr. GREEN of Texas (for himself, Mr. SHERMAN, and Mrs. BEATTY) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services 
A BILL 
To amend the Federal Deposit Insurance Act to require 
reports on the use of the systemic risk authority applica-
ble to winding up a failed insured depository institution, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Systemic Risk Author-
ity Transparency Act’’. 
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SEC. 2. SYSTEMIC RISK PROVISIONS. 
(a) GAO REVIEW.—Section 13(c)(4)(G)(iv) of the 
Federal 
Deposit 
Insurance 
Act 
(12 
U.S.C. 
1823(c)(4)(G)(iv)) is amended to read as follows: 
‘‘(iv) GAO REVIEW.—The Comptroller 
General of the United States shall, not 
later than later than 60 days after a deter-
mination is made under clause (i), and 
again 180 days thereafter, review and re-
port to the Congress on the determination 
under clause (i), including— 
‘‘(I) the basis for the determina-
tion; 
‘‘(II) the purpose for which any 
action was taken pursuant to such 
clause; 
‘‘(III) the likely effect of the de-
termination and such action on the in-
centives and conduct of insured depos-
itory institutions and uninsured de-
positors; 
‘‘(IV) any mismanagement by the 
executives and board of the insured 
depository institution that contributed 
to the failure of the insured deposi-
tory institution; 
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‘‘(V) a review of the compensa-
tion practices of the insured deposi-
tory institution; 
‘‘(VI) any supervisory or regu-
latory shortcomings with respect to 
the primary Federal banking regu-
lators of the insured depository insti-
tution; 
‘‘(VII) any actions taken by the 
Federal banking regulators, Financial 
Stability Oversight Council, Treasury 
Department, and other relevant finan-
cial regulators in relation to the 
bank’s failure; and 
‘‘(VIII) any additional relevant 
entities or activities that may have 
contributed to the failure of the in-
sured depository institution, including 
with respect to auditing, accounting, 
credit rating agencies, investment 
bank underwriters, and emergency li-
quidity options such as loans from the 
Federal Reserve or advances through 
the Federal Home Loan Bank sys-
tem.’’. 
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(b) PRIMARY FEDERAL REGULATOR REPORT.—Sec-
tion 13(c) of the Federal Deposit Insurance Act (12 
U.S.C. 1823(c)) is amended by adding at the end the fol-
lowing: 
‘‘(12) PRIMARY
FEDERAL
REGULATOR
RE-
PORT.—The primary Federal regulator of an insured 
depository institution about which a determination is 
made under clause (i) shall, not later than 60 days 
after the date of such determination, and again 180 
days thereafter, submit a report to the Congress 
that— 
‘‘(A) discloses all confidential supervisory 
information held by such primary Federal regu-
lator that relates to the failed insured deposi-
tory institution; 
‘‘(B) examines any mismanagement by the 
executives and board of the insured depository 
institution that contributed to the failure of the 
insured depository institution; 
‘‘(C) discloses any supervisory or regu-
latory shortcomings by such primary Federal 
regulator with respect to the insured depository 
institution; 
‘‘(D) describes any dynamics that the pri-
mary Federal regulator determines may have 
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contributed to the failure of the insured deposi-
tory institution; and 
‘‘(E) includes any supervisory, regulatory, 
and legislative recommendations such primary 
Federal regulator may have to improve the 
safety and soundness of similarly situated in-
sured depository institutions, the banking sys-
tem, and financial stability.’’. 
Æ 
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