IIB 
119TH CONGRESS 
1ST SESSION H. R. 3716 
IN THE SENATE OF THE UNITED STATES 
DECEMBER 2, 2025 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
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, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Systemic Risk Author-
ity Transparency Act’’. 
SEC. 2. BANK FAILURE TRANSPARENCY RELATED TO SYS-
TEMIC RISK EXCEPTION. 
(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.— 
‘‘(I) IN
GENERAL.—The Comp-
troller General of the United States 
shall, not later than 60 days after a 
determination is made under clause 
(i), and again 180 days thereafter, re-
view and report to the Congress on 
the determination under clause (i), in-
cluding— 
‘‘(aa) the basis for the deter-
mination; 
‘‘(bb) the purpose for which 
any action was taken pursuant to 
such clause; 
‘‘(cc) the likely effect of the 
determination and such action on 
the incentives and conduct of in-
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sured depository institutions and 
uninsured depositors; 
‘‘(dd) any mismanagement 
by the executives and board of 
the insured depository institution 
that contributed to the failure of 
the insured depository institu-
tion; 
‘‘(ee) a review of the com-
pensation practices of the insured 
depository institution; 
‘‘(ff) any supervisory or reg-
ulatory shortcomings with respect 
to the appropriate Federal bank-
ing agency of the insured deposi-
tory institution; 
‘‘(gg) any actions taken by 
the Federal banking regulators, 
Financial 
Stability 
Oversight 
Council, 
Department 
of 
the 
Treasury, and other relevant fi-
nancial regulators in relation to 
the failure of the insured deposi-
tory institution; and 
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‘‘(hh) any additional rel-
evant entities or activities that 
may have contributed to the fail-
ure of the insured depository in-
stitution, including with respect 
to auditing, accounting, credit 
rating agencies, investment bank 
underwriters, and emergency li-
quidity options such as loans 
from the Federal reserve banks 
or advances through the Federal 
Home Loan Bank system. 
‘‘(II) 
RULE
OF
CONSTRUC-
TION.—Nothing in this clause or a re-
port issued pursuant to this clause 
may be construed to limit the author-
ity of a Federal agency to enforce vio-
lations of Federal statutes, rules, or 
orders.’’. 
(b) APPROPRIATE FEDERAL BANKING AGENCY RE-
PORT.—Section 13(c) of the Federal Deposit Insurance 
Act (12 U.S.C. 1823(c)) is amended by adding at the end 
the following: 
‘‘(12) APPROPRIATE FEDERAL BANKING AGEN-
CY REPORT.— 
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‘‘(A) IN GENERAL.—The appropriate Fed-
eral banking agency of an insured depository 
institution about which a determination is made 
under paragraph (4)(G)(i) shall, not later than 
90 days after the date of such determination, 
and again 210 days thereafter, submit a report 
to the Congress that discloses the following: 
‘‘(i) Subject to such redactions as the 
appropriate Federal banking agency deter-
mines appropriate of personally identifiable 
information about customers and other fi-
nancial institutions (as such term is de-
fined under section 11(e)(9)(D)), all— 
‘‘(I) reports of examination and 
inspection that relate to the failed in-
sured depository institution in the 
previous 3-year period; 
‘‘(II) formal communications of a 
material 
supervisory 
determination 
conveyed to the failed insured deposi-
tory institution in the previous 3-year 
period; and 
‘‘(III) any additional exam re-
ports and correspondence that the ap-
propriate Federal banking agency de-
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termines may be relevant to the fail-
ure of the insured depository institu-
tion. 
‘‘(ii) An examination of any mis-
management by the executives and board 
of the insured depository institution that 
contributed to the failure of the insured 
depository institution. 
‘‘(iii) Any supervisory or regulatory 
shortcomings by such appropriate Federal 
banking agency with respect to the insured 
depository institution. 
‘‘(iv) Any dynamics that the appro-
priate Federal banking agency determines 
may have contributed to the failure of the 
insured depository institution. 
‘‘(v) Any supervisory, regulatory, or 
legislative recommendations such appro-
priate Federal banking agency may have to 
improve the safety and soundness of simi-
larly situated insured depository institu-
tions, the banking system, and financial 
stability. 
‘‘(B) PROTECTION OF SENSITIVE INFOR-
MATION.— 
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‘‘(i) EFFECT
ON
PRIVILEGE.—The 
provision of any information by a Federal 
banking agency under this paragraph may 
not be construed as— 
‘‘(I) waiving, destroying, or oth-
erwise affecting any privilege applica-
ble to the information; or 
‘‘(II) waiving any exemption ap-
plicable to the information under sec-
tion 552 of title 5, United States 
Code (commonly known as the ‘Free-
dom of Information Act’). 
‘‘(ii) TRANSPARENCY.— 
‘‘(I) IN
GENERAL.—A Federal 
banking agency shall publish mate-
rials contained in a report required 
under subparagraph (A) to the fullest 
extent possible to promote trans-
parency. 
‘‘(II) CONSULTATION
ON
OMIT-
TING MATERIALS.—If a Federal bank-
ing agency determines particular ma-
terials described under subclause (I) 
should not be published, the Federal 
banking agency shall consult with the 
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chair and ranking member of the 
Committee on Financial Services of 
the House of Representatives and the 
chair and ranking member of the 
Committee on Banking, Housing, and 
Urban Affairs of the Senate. 
‘‘(III) OMITTING
MATERIALS.— 
If, after the consultation required 
under subclause (II), the Federal 
banking agency determines there is a 
substantial public interest in not pub-
lishing such materials, the Federal 
banking agency shall provide those 
materials to the Committee on Finan-
cial Services of the House of Rep-
resentatives and the Committee on 
Banking, Housing, and Urban Affairs 
of the Senate with a written expla-
nation describing the reasons for not 
publishing those materials. 
‘‘(iii) PRIVILEGE.—For purposes of 
this subparagraph, the term ‘privilege’ in-
cludes any work-product, attorney-client, 
or other privilege recognized under Federal 
or State law. 
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‘‘(C) REPORT
EXTENSION.—A Federal 
banking agency may extend a deadline de-
scribed under subparagraph (A) for an addi-
tional 60 days, if the Federal banking agency— 
‘‘(i) faces ongoing circumstances that 
require the Federal banking agency to 
prioritize activities to promote stability of 
the U.S. banking system; and 
‘‘(ii) notifies the Congress of such ex-
tension and the reasons for such extension. 
‘‘(D) CONSOLIDATED
REPORTS.—A Fed-
eral banking agency may consolidate multiple 
reports required under this paragraph so long 
as the individual reports being consolidated all 
meet the timing requirements under this para-
graph. 
‘‘(E) RULE OF CONSTRUCTION.—Nothing 
in this paragraph or reports or materials pro-
vided pursuant to this paragraph may be con-
strued to limit the authority of a Federal agen- 
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cy to enforce violations of Federal statutes, 
rules, or orders.’’. 
Passed the House of Representatives December 1, 
2025. 
Attest: 
KEVIN F. MCCUMBER, 
Clerk. 
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