,,ii  #aad? ,,congress  #b;d ,session   
,h4 ,r4 #eadc  ,,9 ,,! ,,s5ate ,,( ,,!  
,,unit$ ,,/ates  ,decemb] #h1           
#bjaf,receiv$  ,,an ,,act  ,to provide  
great] transp>5cy & congressional       
ov]sight ( int]national insurance /&>ds 
sett+ processes1 & = o!r purposes4  #a4 
,%ort title ,?is ,act may be cit$ z !   
,transp>5t ,insurance ,/&>ds ,act (     
#bjaf4  #b4 ,congressional f9d+s ,!     
,congress f9ds ! foll[+3  7#a7 ,!       
,/ate-bas$ sy/em = insurance regulation 
9 ! ,unit$ ,/ates has s]v$ ,am]ican     
consum]s well = m ?an #aej ye>s & has   
fo/]$ an op5 & competitive m>ketplace ) 
a div]sity ( insurance products to !    
b5efit ( policyhold]s & consum]s4  7#b7 
,protect+ policyhold]s by regulat+ to   
ensure an insur]'s ability to pay claims
 has be5 ! hallm>k ( ! successful ,unit$
 ,/ates sy/em & %\ld be ! p>am\nt       
objective ( dome/ic prud5tial regulation
 & em]g+ int]national /&>ds4  7#c7      
,unit$ ,/ates (ficials p>ticipat+ 9     
discussions or negotiations reg>d+      

int]national insurance /&>ds %all       
support /&>ds design$ = ! protection (  
policyhold]s4  7#d7 ,! ,secret>y ( !    
,treasury %all seek advice &            
recomm5dations f a div]se gr\p ( outside
 exp]ts 9 p]=m+ ! duties & au?orities ( 
! ,secret>y to coord9ate ,f$]al ef=ts & 
develop ,f$]al policy on prud5tial      
aspects ( int]national insurance matt]s4
  7#e7 ,! draft ( ! ,high] ,loss        
,absorb5cy capital /&>d adopt$ 9 #bjae  
by ! ,int]national ,association (       
,insurance ,sup]visors1 not)/&+ !       
conc]ns ( ,u4,s4 p>ties to !            
,int]national ,association ( ,insurance 
,sup]visors1 unequally affects insurance
 products (f]$ 9 ! ,unit$ ,/ates1 an    
issue t mu/ be address$4  7#f7 ,any     
int]national /&>d agre$ to at !         
,int]national ,association ( ,insurance 
,sup]visors is n self-execut+ 9 ! ,unit$
 ,/ates = any insur] until implem5t$    
?r\gh ! requir$ ,f$]al or ,/ate         
legislative or regulatory process4  #c4 
,objectives = int]national insurance    

/&>ds ,! objectives ( ! ,unit$ ,/ates   
reg>d+ int]national insurance /&>ds are 
z foll[s3 7#a7 ,to ensure /&>ds t ma9ta9
 /rong protection ( policy hold]s1 z    
reflect$ 9 ! ,unit$ ,/ates solv5cy      
regime4  7#b7 ,to ensure1 pursuant to   
enactm5t ( ! ,insurance ,capital ,/&>ds 
,cl>ification ,act ( #bjad 7,public ,law
 #aac-bgi71 /&>ds t are appropriate =   
insur]s & are n bank-c5tric 9 nature4   
7#c7 ,to promote a pr9ciples-bas$       
approa* to insurance sup]vision1 9 :i*  
capital adequacy is assess$ us+         
risk-bas$ capital requirem5ts =         
insurance comb9$ ) qualitative risk     
assessm5t & managem5t tools4  7#d7 ,to  
consid] ! mo/ effici5t & lea/ disruptive
 approa*es to enhanc+ regulatory        
assessm5t ( ! capital adequacy (        
insurance gr\ps1 includ+ tools t are    
already 9 place4  7#e7 ,to ensure t any 
int]national insurance /&>d recognizes  
prud5tial measures us$ )9 ! ,unit$      
,/ates z satisfy+ /&>ds f9aliz$ by      
int]national /&>d-sett+ organizations4  

7#f7 ,to support increas+ transp>5cy at 
any global insurance or int]national    
/&>d-sett+ organization 9 :i* ! ,unit$  
,/ates p>ticipates1 includ+ advocat+ =  
great] /akehold] public obs]v] access to
 work+ gr\ps & committee meet+s ( !     
,int]national ,association ( ,insurance 
,sup]visors4  7#g7 ,to ensure t !re is a
 suffici5t p]iod = public consultation &
 comm5t reg>d+ any propos$ int]national 
insurance /&>d be=e x takes effect & t  
any su* f9al /&>d is compos$ 9 pla9     
writ+ 7z su* t]m is def9$ 9 section #c (
 ! ,pla9 ,writ+ ,act ( #bjaj 7#e        
,u4,s4,c4 #cja note774  7#h7 ,to ensure 
t ! ,secret>y ( ! ,treasury & ! ,bo>d ( 
,gov]nors ( ! ,f$]al ,res]ve ,sy/em     
a*ieve cons5sus positions ) ,/ate       
insurance commission]s :5 ! ,secret>y & 
! ,bo>d are ,unit$ ,/ates p>ticipants 9 
discussions on insurance issues be=e !  
,int]national ,association ( ,insurance 
,sup]visors1 ,f9ancial ,/ability ,bo>d1 
or any o!r int]national =um ( f9ancial  
regulators or sup]visors t consid]s su* 

issues4  7#i7 ,to consid] ! impact ( any
 su* /&>d on ! availability & co/ (     
products to consum]s4  7#aj7 ,to avoid  
measures t c\ld limit ! availability &  
accessibility ( risk protection &       
retirem5t security products t are       
ess5tial to meet+ ! ne$s ( ag+          
populations4  7#aa7 ,to ensure t ! m]its
 ( exi/+ ,/ate-bas$ capital /&>ds are   
recogniz$ & incorporat$ 9 any dome/ic or
 global insurance capital /&>d4  7#ab7  
,to advocate = insurance regulatory     
/&>ds t are bas$ on ! nature1 scale1 &  
complexity ( ! risks pos$ by ! regulat$ 
insurance gr\p & entity or activity4    
#d4 ,requirem5ts = cons5t to adopt      
,int]national insurance /&>ds  7a7      
,publication ( /&>ds2 adoption ( capital
 & prud5tial /&>ds ,! ,unit$ ,/ates may 
n agree to1 accept1 e/abli%1 ent] into1 
or cons5t to ! adoption ( a f9al        
int]national insurance /&>d ) an        
int]national /&>d-sett+ organization or 
a =eign gov]nm5t1 au?ority1 or          
regulatory entity unless ! requirem5ts  

"u bo? ( ! foll[+ p>agraphs are compli$ 
)3  7#a7 ,publication ,! requirem5ts "u 
?is p>agraph are compli$ ) if !         
conditions "u "o ( ! foll[+ subp>agraphs
 h be5 met3  7,a7 ,by ,f$]al res]ve &   
treasury ,! ,*airman ( ! ,bo>d (        
,gov]nors ( ! ,f$]al ,res]ve ,sy/em & ! 
,secret>y ( ! ,treasury h caus$ !       
propos$ text ( ! propos$ f9al           
int]national insurance /&>d to be       
publi%$ 9 ! ,f$]al ,regi/] & made       
available = public comm5t = a p]iod ( n 
few] ?an #cj days 7:i* p]iod may run    
concurr5tly ) ! #ij-;day p]iod ref]r$ to
 9 subsection 7b77#c774  7,b7 ,by /ate  
insurance commission]s ,! ,/ate         
insurance commission]s h caus$ ! propos$
 text ( ! propos$ int]national insurance
 /&>d to be publi%$ 9 a simil> =m &     
mann] t provides = notice & public      
comm5t4  7#b7 ,capital /&>d ,9 ! case   
only ( a f9al int]national insurance    
/&>d sett+ =? any capital /&>d or /&>ds 
= insur]s--  7,a7 su* int]national      
capital /&>d is consi/5t ) capital      

requirem5ts set =? 9 ! ,/ate-bas$ sy/em 
( insurance regulation2  7,b7 ! ,bo>d   
has issu$ capital requirem5ts =         
insurance companies sup]vis$ by ! ,bo>d 
& subject to su* requirem5ts1 :i* %all  
be issu$ ?r\gh rulemak+ 9 accordance ) !
 proc$ures e/abli%$ "u section #eec (   
title #e1 ,unit$ ,/ates ,code1 reg>d+   
sub/antive rules1 "u :i* ! p]iods =     
notice & public comm5t %all ea* h a     
duration ( n few] ?an #fj days2 &  7,c7 
to ! ext5t t su* int]national capital   
/&>d is int5d$ to be appli$ to a company
 or companies sup]vis$ by ! ,bo>d (     
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 is 
consi/5t ) ! capital requirem5ts ( !    
,bo>d = su* companies4  7b7 ,submission 
& layov] provisions ,! ,secret>y & !    
,bo>d may n agree to1 accept1 e/abli%1  
ent] into1 or cons5t to ! adoption ( an 
int]national insurance /&>d e/abli%$    
?r\gh an int]national /&>d-sett+        
organization or a =eign gov]nm5t1       
au?ority1 or regulatory entity unless-- 
7#a7 ! ,secret>y & ! ,bo>d h-- 7,a7     

conduct$ an analysis "u subsection 7c7 (
 ! propos$ int]national insurance /&>d2 
&  7,b7 submitt$ to ! cov]$             
congressional committees1 on a day on   
:i* bo? ,h\ses ( ,congress are 9        
session1 a copy ( ! propos$ f9al text ( 
! propos$ int]national insurance /&>d & 
! report requir$ "u subsection 7c77#b7  
reg>d+ su* analysis2  7#b7 ! ,secret>y &
 ! ,*airman ( ! ,bo>d h det]m9$1        
pursuant to su* analysis1 t ! propos$   
/&>d w n result 9 any *ange 9 ,/ate law2
  7#c7 ) respect to a capital /&>d "u   
subsection 7a77#b71 ! ,secret>y & !     
,*airman ( ! ,bo>d c]tify t ! propos$   
int]national capital /&>d is design$    
solely to help ensure t suffici5t funds 
are available to pay claims to an       
insur]'s policyhold]s 9 ! ev5t ( !      
liquidation ( t entity2 &  7#d7 a p]iod 
( #ij cal5d> days beg9n+ on ! date on   
:i* ! copy ( ! propos$ f9al text ( !    
/&>d is submitt$ to ! cov]$             
congressional committees "u p>agraph    
7#a77;,b7 has expir$1 dur+ :i* p]iod !  

,congress may take action to approve or 
reject su* f9al /&>d4  7c7 ,jo9t        
analysis by ,*air ( ! ,f$]al res]ve &   
,secret>y ( ! ,treasury  7#a7 ,9 g5]al  
,an analysis "u ?is subsection ( a      
propos$ f9al int]national insurance /&>d
 %all be an analysis conduct$ by !      
,secret>y & ! ,*airman ( ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 9  
consultation ) ! ,/ate insurance        
commission]s1 ( ! impact ( su* /&>d on  
consum]s & m>kets 9 ! ,unit$ ,/ates &   
:e!r any *anges 9 ,/ate law w result f  
su* f9al /&>d4  7#b7 ,report ,^u        
completion ( an analysis "u ?is         
subsection ( a f9al int]national        
insurance /&>d1 ! ,secret>y & ! ,bo>d   
%all submit a report on ! results ( !   
analysis to ! cov]$ congressional       
committees & ! ,comptroll] ,g5]al ( !   
,unit$ ,/ates4 ,! report %all include a 
/atem5t sett+ =? ! det]m9ation made     
pursuant to p>agraph 7#a7 reg>d+ any    
*anges 9 ,/ate law result+ f su* f9al   
/&>d4  7#c7 ,notice & comm5t  7,a7      

,notice ,! ,secret>y & ! ,*airman ( !   
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em %all provide notice be=e ! date  
on :i* draft+ ! report is comm5c$ & aft]
 ! date on :i* ! draft ( ! report is    
complet$4  7,b7 ,opportunity = comm5t   
,!re %all be an opportunity = public    
comm5t = a p]iod beg9n+ on ! date on :i*
 ! report is submitt$ "u p>agraph 7#b7 &
 end+ on ! date t is n few] ?an #fj days
 aft] ! date on :i* ! report is         
submitt$4 ,no?+ 9 ?is subp>agraph %all  
affect ! au?ority ( ! ,bo>d to issue !  
rule ref]r$ to 9 subsection 7a77#b74    
7#d7 ,review by comptroll] g5]al ,^u    
submission ( a report pursuant to       
p>agraph 7#b7 to ! ,comptroll] ,g5]al1 !
 ,comptroll] ,g5]al %all review ! report
 & %all submit a report to ! ,congress  
sett+ =? ! conclusions ( ! ,comptroll]  
,g5]al's review4  7d7 ,limit$ effect    
,?is section may n be con/ru$ to e/abli%
 or exp& any au?ority to implem5t an    
int]national insurance /&>d 9 ! ,unit$  
,/ates or = ! ,unit$ ,/ates or any      

repres5tative ( ! ,f$]al ,gov]nm5t to   
adopt or ent] into any int]national     
insurance /&>d4  7e7 ,treatm5t ( ,/ate  
law ,9 accordance ) ! ,act ( ,m>* #i1   
#aide 7,*apt] #bj2 #ei ,/at4 #cc2 #ae   
,u4,s4,c4 #ajaa et seq471 commonly      
ref]r$ to z ! ,mc,carran-,f]guson ,act1 
?is section may n be con/ru$ to preempt 
,/ate law4  #e4 ,reports  7a7 ,reports &
 te/imony by ,secret>y ( ! ,treasury &  
,*air ( ! ,f$]al ,res]ve ,! ,secret>y & 
! ,*airman ( ! ,bo>d ( ,gov]nors ( !    
,f$]al ,res]ve ,sy/em %all submit to !  
cov]$ congressional committees an annual
 report & provide te/imony1 n less (t5  
?an e #f mon?s1 to ! cov]$ congressional
 committees on ! ef=ts ( ! ,secret>y & !
 ,*airman ) ! ,/ate insurance           
commission]s ) respect to int]national  
insurance /&>d-sett+ organizations &    
int]national insurance /&>ds1 includ+-- 
7#a7 a description ( ! insurance        
/&>d-sett+ issues "u discussion at      
int]national /&>d-sett+ bodies1 includ+ 
! ,f9ancial ,/ability ,bo>d & !         

,int]national ,association ( ,insurance 
,sup]visors2  7#b7 a description ( !    
effects t int]national insurance /&>ds  
c\ld h on consum]s & insurance m>kets 9 
! ,unit$ ,/ates2  7#c7 a description (  
any position tak5 by ! ,secret>y & !    
,bo>d 9 int]national insurance          
discussions or on any int]national      
insurance /&>d2  7#d7 a description ( ! 
ef=ts by ! ,secret>y & ! ,bo>d to       
increase transp>5cy & acc\ntability at !
 ,f9ancial ,/ability ,bo>d ) respect to 
insurance proposals & ! ,int]national   
,association ( ,insurance ,sup]visors1  
includ+ ef=ts to provide additional     
public access to work+ gr\ps &          
committees ( ! ,int]national            
,association ( ,insurance ,sup]visors2 &
  7#e7 a description ( h[ ! ,secret>y & 
! ,bo>d are meet+ ! objectives set =? 9 
section #c1 or1 if su* objectives are n 
be+ met1 an explanation ( ! reasons = n 
meet+ su* objectives4  7b7 ,reports &   
te/imony by ,/ate insurance commission]s
 ,! ,/ate insurance commission]s may    

provide te/imony or reports to !        
,congress on ! issues describ$ 9        
subsection 7a74  7c7 ,report on         
transp>5cy ,n lat] ?an #ahj days aft] ! 
date ( enactm5t ( ?is ,act1 ! ,*airman (
 ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve 
,sy/em & ! ,secret>y %all submit to !   
,congress a report & provide te/imony to
 ! ,congress on ! ef=ts ( ! ,*airman & !
 ,secret>y pursuant to subsection       
7a77#d7 ( ?is section to increase       
transp>5cy at meet+s ( ! ,int]national  
,association ( ,insurance ,sup]visors4  
7d7 ,,gao report on transp>5cy ( outside
 organizations  7#a7 ,9 g5]al ,n lat]   
?an #a ye> aft] ! date ( enactm5t ( ?is 
,act1 ! ,comptroll] ,g5]al ( ! ,unit$   
,/ates %all submit to ! cov]$           
congressional committees a report1 &    
provide te/imony to su* committees1     
id5tify+ & analyz+ ! transp>5cy &       
acc\ntability ( any organization act+ z 
a designee (1 or at ! direction (1 !    
head ( a ,/ate insurance dep>tm5t on    
issues relat$ to int]national insurance 

/&>ds1 :i* is n employ$ directly by !   
,/ate4  7#b7 ,cont5t ,! report &        
te/imony requir$ "u ?is section %all    
include a description & analysis (--    
7,a7 ! role1 involvem5t1 or relation%ip1
 ( any organization id5tifi$ pursuant to
 p>agraph 7#a71 (1 )1 or to ! ,/ate     
insurance dep>tm5ts' activities z       
au?oriz$ by1 direct$ by1 or o!rwise     
ref]r$ to 9 ?is ,act1 includ+ a         
description & analysis reg>d+ su*       
organization's p>ticipation 9 policy &  
decision-mak+ delib]ations & activities 
relat$ to int]national insurance /&>ds2 
7,b7 any f9ancial support provid$ by su*
 organization to any ,/ate insurance    
dep>tm5t p]sonnel 9 fur!rance ( _!      
activities relat$ to int]national       
insurance /&>ds1 ! nature & am\nt ( su* 
support1 & any und]/&+s betwe5 !        
organization & ! ,/ate reg>d+ travel    
protocols & ,/ate laws gov]n+ ,/ate     
(ficials' receipt (1 b5efitt+ f1 or be+ 
subsidiz$ by1 outside funds2  7,c7 !    
budget1 includ+ rev5ues & exp5ses1 ( any

 organization id5tifi$ pursuant to      
p>agraph 7#a7 relat+ to p>ticipation 9  
int]national insurance discussions on   
issues be=e1 involv+1 or relat+ to !    
,int]national ,association ( ,insurance 
,sup]visors1 ! ,f9ancial ,/ability      
,bo>d1 or any o!r int]national =um (    
f9ancial regulators or sup]visors t     
consid]s su* issues1 & h[ ! organization
 collects money to fund su* activities2 
7,d7 :e!r ea* su* budget ( su* an       
organization is develop$ "u a process   
comp>able 9 its transp>5cy &            
acc\ntability to ! process "u :i*       
budgets are develop$ & appropriat$ =    
,/ate dep>tm5ts ( insurance & ,f$]al    
executive bran* regulatory ag5cies1     
includ+--  7i7 an id5tification ( any   
bodies indep5d5t ( ! organization t set 
/&>ds = &_/or ov]see t organization's   
budget+ process2 &  7ii7 a description (
 ! ext5t to :i* & h[ ! organization1 9  
fund+ its op]ations1 uses or b5efits f  
its memb]s' ability to compel entities  
subject to its memb]s' regulatory       

au?ority to use ! s]vices ( !           
organization or any ( its affiliates2 & 
7,e7 ! ext5t to :i* ! "w product ( any  
organization id5tifi$ pursuant to       
p>agraph 7#a7 has ! effect ( e/abli%+   
any self-execut+ national /&>ds1 & 9 :at
 way1 & :e!r su* /&>ds are develop$ "u  
processes comp>able 9 _! transp>5cy &   
acc\ntability to ! process "u :i*       
national /&>ds are develop$ by !        
,congress or ,f$]al executive bran*     
ag5cies4  #f4 ,def9itions ,9 ?is ,act3  
7#a7 ,bo>d ,! t]m ,bo>d means ! ,bo>d ( 
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 or 
! designee ( ! ,bo>d4  7#b7 ,cov]$      
congressional committees ,! t]m cov]$   
congressional committees means !        
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+ & ,urban ,affairs ( !  
,s5ate4  7#c7 ,int]national insurance   
/&>d ,! t]m int]national insurance /&>d 
means any int]national insurance        
sup]visory /&>d develop$ by an          
int]national /&>ds sett+ organization1  

or regulatory or sup]visory =um1 9 :i* !
 ,unit$ ,/ates p>ticipates1 includ+ !   
,common ,framework = ! ,sup]vision (    
,int]nationally ,active ,insurance      
,gr\ps1 ! ,f9ancial ,/ability ,bo>d1 & !
 ,int]national ,association ( ,insurance
 ,sup]visors4  7#d7 ,secret>y ,! t]m    
,secret>y means ! ,secret>y ( !         
,treasury1 or ! ,secret>y's designee4   
7#e7 ,/ate insurance commission]s ,! t]m
 ,/ate insurance commission]s means !   
heads ( ! ,/ate insurance dep>tm5ts or  
_! designees act+ at _! direction4  #g4 
,treatm5t ( cov]$ agreem5ts ,section    
#cad ( title #ca1 ,unit$ ,/ates ,code is
 am5d$-- 7#a7 9 subsection 7c7--  7,a7  
by r$esignat+ p>agraphs 7#a7 & 7#b7 z   
p>agraphs 7#b7 & 7#c71 respectively2 &  
7,b7 by ins]t+ be=e p>agraph 7#b71 z s  
r$esignat$1 ! foll[+ new p>agraph3  7#a7
 ! ,secret>y ( ! ,treasury & ! ,unit$   
,/ates ,trade ,repres5tative h caus$ to 
be publi%$ 9 ! ,f$]al ,regi/]1 & made   
available = public comm5t = a p]iod ( n 
few] ?an #cj days 7:i* p]iod may run    

concurr5tly ) ! #ij-;day p]iod = ! cov]$
 agreem5t ref]r$ to 9 p>agraph 7#c771 ! 
propos$ text ( ! cov]$ agreem5t2  2 &   
7#b7 by add+ at ! end ! foll[+ new      
subsections3  7d7 ,consultation ) ,/ate 
insurance commission]s ,9 any           
negotiations reg>d+ a contemplat$ cov]$ 
agreem5t1 ! ,secret>y & ! ,unit$ ,/ates 
,trade ,repres5tative %all consult ) &  
directly include ,/ate insurance        
commission]s4  7e7 ,prohibition on      
regulatory au?ority ,9 accordance )     
subsections 7k7 & 7l7 ( section #cac1 a 
cov]$ agreem5t %all n be us$ to e/abli% 
or provide ! ,f$]al ,insurance ,(fice or
 ! ,treasury ) any g5]al sup]visory or  
regulatory au?ority ov] ! bus9ess (     
insurance or ) ! au?ority to p>ticipate 
9 a sup]visory college or simil>        
process4  7f7 ,treatm5t "u o!r law ,a   
cov]$ agreem5t %all n be consid]$ an    
int]national insurance /&>d = purposes (
 ! ,transp>5t ,insurance ,/&>ds ,act (  
#bjaf & %all n be subject to su* ,act4  
4  #h4 ,duties ( indep5d5t memb] (      

,f9ancial ,/ability ,ov]sight ,c\ncil   
,subsection 7a7 ( section #aab ( !      
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7#ab ,u4,s4,c4
 #ecbb7;a77 is am5d$ by add+ at ! end ! 
foll[+ new p>agraph3  7#c7 ,duties (    
indep5d5t memb] ,to assi/ ! ,c\ncil )   
its responsibilities to monitor         
int]national insurance developm5ts1     
advise ,congress1 & make recomm5dations1
 ! ,indep5d5t ,memb] ( ! ,c\ncil %all h 
! au?ority to--  7,a7 regul>ly consult )
 int]national insurance sup]visors &    
int]national f9ancial /ability          
c\nt]p>ts2  7,b7 consult )1 advise1 &   
assi/ ! ,secret>y ( ! ,treasury )       
respect to repres5t+ ! ,f$]al ,gov]nm5t 
( ! ,unit$ ,/ates1 z appropriate1 9 !   
,int]national ,association ( ,insurance 
,sup]visors 7includ+ to become a        
non-vot+ memb] !re(71 p>ticul>ly on     
matt]s ( sy/emic risk1 & to consult ) ! 
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em & ! ,/ates conc]n+ su* matt]s2   
7,c7 att5d ! ,f9ancial ,/ability ,bo>d (

 ,! ,gr\p ( ,tw5ty & jo9 ) o!r memb]s f 
! ,unit$ ,/ates1 includ+ on matt]s      
relat$ to insurance & f9ancial /ability1
 & provide = ! att5dance & p>ticipation 
at su* ,bo>d1 on matt]s relat$ to       
insurance & f9ancial /ability1 ( ,/ate  
insurance commission]s2 &  7,d7 att5d1 )
 ! ,unit$ ,/ates delegation1 !          
,organization = ,economic ,coop]ation & 
,developm5t & obs]ve & p>ticipate at !  
,insurance & ,private ,p5sions          
,committee ( su* ,organization on matt]s
 relat$ to insurance & f9ancial         
/ability4  4  #i4 ,/ate insurance       
regulator involvem5t 9 int]national /&>d
 sett+ ,p>ties repres5t+ ! ,unit$ ,/ates
 at ! ,f9ancial ,/ability ,bo>d ( !     
,gr\p ( ,tw5ty on matt]s1 & 9 meet+s1   
relat$ to insurance & f9ancial /ability 
%all consult )1 & seek to include 9 su* 
meet+s1 ! ,/ate insurance commission]s4 
#aj4 ,rule ( con/ruction ,no?+ 9 ?is    
,act or ! am5dm5ts made by ?is ,act may 
be con/ru$ to support or endorse !      
dome/ic capital /&>d = insur]s ref]r$ to

 9 section #d7;a77#b7 or any su* dome/ic
 capital /&>ds e/abli%$ by ! ,bo>d4     
#aa4 ,securities & ,ex*ange ,commission 
,res]ve ,fund ,clause 7i7 ( section     
#d7;i77#b77;,b7 ( ! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4            
#gh;d7i77#b77;,b77i77 is am5d$ by ins]t+
 be=e ! semicolon ! foll[+3 1 except t =
 fiscal ye> #bjag1 ! am\nt deposit$ may 
n exce$ #dc1jjj1jjj4  ,pass$ ! ,h\se (  
,repres5tatives ,decemb] #g1 #bjaf4,k>5 
,l4 ,haas1,cl]k