,,ib ,union ,calendar ,no4 #dgc #aaeth ,,congress #b;d ,session ,h4 ,r4 #cagi ,report ,no4 #aae-fbj ,,in ,,the ,,house ,,of ,,representatives ,july #aa1 #bjag ,mr4 ,hollingsworth introduced the following bill2 which was referred to the ,committee on ,financial ,services ,april #e1 #bjah;,additional sponsors3 ,mr4 ,tipton1 ,mrs4 ,wagner1 ,mr4 ,budd1 ,mr4 ,messer1 ,mr4 ,luetkemeyer1 ,mr4 ,rothfus1 ,mr4 ,stivers1 ,mr4 ,lucas1 ,mr4 ,mac,arthur1 ,mr4 ,hill1 ,mr4 ,barr1 ,mr4 ,emmer1 ,mr4 ,davidson1 ,ms4 ,tenney1 and ,mr4 ,pittenger ,april #e1 #bjah ,committed to the ,committee of the ,whole ,house on the ,state of the ,union and ordered to be printed ,a ,,bill ,to require the appropriate ,federal banking agencies1 when issuing certain prudential regulations that are substantively more stringent than a corresponding international prudential standard to publish the rationale for doing so and a cost-benefit analysis of the difference1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,transparency and ,accountability for ,business ,standards ,act4 #b4 ,cost-benefit analysis requirement for certain prudential regulations 7a7 ,rulemaking requirement ,an appropriate ,federal banking agency may not adopt or otherwise establish a prudential regulation that is substantively more stringent than a corresponding international prudential standard unless the appropriate ,federal banking agency publishes1 for public notice and comment-- 7#a7 a description of the agency's rationale for doing so2 and 7#b7 a comprehensive analysis of the costs and benefits of the difference between the prudential regulation and the corresponding international prudential standard1 including-- 7,a7 any impact on the pricing and availability of credit in the aggregate and for specific types of borrowers2 7,b7 any impact on liquidity in markets for financial instruments in the aggregate and for specific types of instruments2 7,c7 any impact of doing so on the competitiveness of affected institutions2 and 7,d7 any impact on employment1 economic growth1 and the execution of monetary policy4 7b7 ,requirements with respect to superseded prudential regulations ,an appropriate ,federal banking agency may not adopt or otherwise establish a prudential regulation to implement an international standard that will result in a prudential regulation that is then in effect becoming a superseded prudential regulation1 unless the appropriate ,federal banking agency publishes for public notice and comment-- 7#a7 a proposal to repeal or amend the superseded prudential regulation1 or applicable part thereof2 or 7#b7 if the appropriate ,federal banking agency does not propose to repeal or amend the superseded prudential regulation1 or applicable part thereof1 a description of the agency's rationale for not doing so1 which shall include a comprehensive analysis of the incremental costs and benefits of the superseded prudential regulation after the adoption of the prudential regulation to implement an international standard4 7c7 ,lookback requirement ,with respect to a final rule issued by an appropriate ,federal banking agency on or after ,january #a1 #bjjg1 but before the date of the enactment of this ,act that established a prudential regulation that is substantively more stringent than a corresponding international prudential standard1 or that resulted in another prudential regulation becoming a superseded prudential regulation1 each appropriate ,federal banking agency shall1 not later than the end of the #ahj-;day period beginning on the date of the enactment of this ,act1 issue a report to the ,congress 7and make such report available on the website of the agency7 with respect to such rule1 containing the description and analysis described under paragraphs 7#a7 and 7#b7 of subsection 7a7 or paragraph 7#b7 of subsection 7b71 as applicable4 7d7 ,definitions ,for purposes of this section3 7#a7 ,appropriate ,federal banking agency ,the term appropriate ,federal banking agency has the meaning given that term under section #c of the ,federal ,deposit ,insurance ,act4 7#b7 ,banking organization ,the term banking organization means a depository institution or a depository institution holding company1 as such terms are defined1 respectively1 under section #c of the ,federal ,deposit ,insurance ,act4 7#c7 ,corresponding international prudential standard ,the term corresponding international prudential standard means an international prudential standard on which a prudential regulation is based1 from which a prudential regulation is derived1 or to which a prudential regulation is otherwise substantively similar4 7#d7 ,prudential regulation ,the term prudential regulation means any rule or regulation relating to capital requirements1 leverage requirements1 liquidity requirements1 or any similar requirements1 including any rule or regulation that imposes any minimum requirement on a banking organization's amount of capital1 debt1 or liquid assets1 either in absolute terms or as a ratio of any measure of assets1 exposures1 or cash inflows and outflows1 or that conditions the ability of a banking organization to take any action or imposes any requirement based on any absolute or proportional measure of capital1 leverage1 debt1 or liquidity4 7#e7 ,prudential regulation to implement an international standard ,the term prudential regulation to implement an international standard means a prudential regulation that is based on1 derived from1 or otherwise substantively similar to an international prudential standard4 7#f7 ,international prudential standard ,the term international prudential standard means any standard that has been adopted by an international institution comprised of an appropriate ,federal banking agency and banking supervisors or central banks of jurisdictions other than the ,united ,states1 including the ,basel ,committee on ,banking ,supervision and the ,financial ,stability ,board1 relating to capital requirements1 leverage requirements1 liquidity requirements1 or any similar requirements1 including any standard that contemplates minimum requirements on a banking organization's amount of capital1 debt1 or liquid assets1 either in absolute terms or as a ratio of any measure of assets1 exposures1 or cash inflows and outflows1 or that contemplates conditioning the ability of a banking organization to take any action or imposing any requirement based on any measure of capital1 leverage1 debt1 or liquidity4 7#g7 ,superseded prudential regulation ,the term superseded prudential regulation means a prudential regulation1 with respect to which a prudential regulation to implement an international standard addresses or would address the same or similar risks or otherwise achieves or would achieve the same or similar goals4 ,april #e1 #bjah ,committed to the ,committee of the ,whole ,house on the ,state of the ,union and ordered to be printed