I 118th CONGRESS 1st Session H. R. 4116 IN THE HOUSE OF REPRESENTATIVES June 14, 2023 Mr. Green of Texas (for himself, Mr. Sherman , and Mrs. Beatty ) introduced the following bill; which was referred to the Committee on Financial Services A BILL 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.

1. Short title This Act may be cited as the Systemic Risk Authority Transparency Act . 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 determination is made under clause (i), and again 180 days thereafter, review and report to the Congress on the determination under clause (i), including— (I) the basis for the determination; (II) the purpose for which any action was taken pursuant to such clause; (III) the likely effect of the determination and such action on the incentives and conduct of insured depository institutions and uninsured depositors; (IV) any mismanagement by the executives and board of the insured depository institution that contributed to the failure of the insured depository institution; (V) a review of the compensation practices of the insured depository institution; (VI) any supervisory or regulatory shortcomings with respect to the primary Federal banking regulators of the insured depository institution; (VII) any actions taken by the Federal banking regulators, Financial Stability Oversight Council, Treasury Department, and other relevant financial 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 insured depository institution, including with respect to auditing, accounting, credit rating agencies, investment bank underwriters, and emergency liquidity options such as loans from the Federal Reserve or advances through the Federal Home Loan Bank system. . (b) Primary Federal regulator report 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) Primary Federal Regulator report 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 regulator that relates to the failed insured depository 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 regulatory shortcomings by such primary Federal regulator with respect to the insured depository institution; (D) describes any dynamics that the primary Federal regulator determines may have contributed to the failure of the insured depository 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 insured depository institutions, the banking system, and financial stability. .