I 
116TH CONGRESS 
1ST SESSION H. R. 4458 
To require the Board of Governors of the Federal Reserve System to issue 
reports on cybersecurity with respect to the functions of the Federal 
Reserve System, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 24, 2019 
Mr. MCHENRY 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 reports on cybersecurity with respect 
to the functions of the Federal Reserve System, 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 ‘‘Cybersecurity and Fi-
nancial System Resilience Act of 2019’’. 
SEC. 2. CYBERSECURITY REPORT. 
(a) IN GENERAL.—Not later than the end of the 180- 
day period beginning on the date of enactment of this Act, 
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and annually thereafter, the Board of Governors of the 
Federal Reserve System shall submit a report to the Com-
mittee on Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate that provides a detailed explanation 
on measures taken by the Board of Governors and the 
Federal reserve banks to strengthen cybersecurity with re-
spect to the functions of the Federal Reserve System, in-
cluding the supervision and regulation of financial institu-
tions. Each such report shall specifically include a detailed 
explanation of— 
(1) 
policies 
and 
procedures 
that 
guard 
against— 
(A) efforts to deny access to or degrade, 
disrupt, or destroy any information and com-
munications technology system or network, or 
exfiltrate information from such a system or 
network without authorization; 
(B) destructive malware attacks; 
(C) denial of service activities; and 
(D) any other efforts that, in the deter-
mination of the Board, may threaten the func-
tions of the Federal Reserve System by under-
mining cybersecurity; and 
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(2) activities to ensure the effective implemen-
tation of policies and procedures described under 
paragraph (1), including— 
(A) the appointment of qualified staff, the 
provision of staff training, and the use of ac-
countability measures to support staff perform-
ance; 
(B) deployment of adequate resources and 
technologies; 
(C) the development and dissemination of 
best practices regarding cybersecurity; and 
(D) as appropriate, efforts to strengthen 
cybersecurity in coordination with departments 
and agencies of the Federal Government, for-
eign central banks, and other partners. 
(b) FORM OF REPORT.—The report required under 
subsection (a) shall be submitted in unclassified form, but 
may include a classified annex, if appropriate. 
(c) CONGRESSIONAL BRIEFING.—The Chairman of 
the Board of Governors of the Federal Reserve System, 
or a member of the Board of Governors (as designated 
by the Chairman), shall provide a detailed briefing to the 
appropriate Members of Congress on each report sub-
mitted pursuant to subsection (a). 
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(d) APPROPRIATE MEMBERS
OF CONGRESS DE-
FINED.—For the purposes of this Act, the term ‘‘appro-
priate Members of Congress’’ means the following: 
(1) The Chairman and Ranking Member of the 
Committee on Financial Services of the House of 
Representatives. 
(2) The Chairman and Ranking Member of the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate. 
(e) SUNSET.—The provisions of this Act shall have 
no force or effect on or after the date that is 7 years after 
the date of enactment of this Act. 
Æ 
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