,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #ddeh  ,,in ,,the ,,house ,,of  
,,representatives  ,september #bd1      
#bjai,mr4 ,mc,henry introduced the      
following bill2 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      
,system1 and for other purposes4  #a4   
,short title ,this ,act may be cited as 
the ,cybersecurity and ,financial       
,system ,resilience ,act of #bjai4  #b4 
,cybersecurity report  7a7 ,in general  
,not later than the end of the #ahj-;day
 period beginning on the date of        
enactment of this ,act1 and annually    
thereafter1 the ,board of ,governors of 
the ,federal ,reserve ,system shall     
submit a report to the ,committee on    
,financial ,services of the ,house of   
,representatives and the ,committee on  
,banking1 ,housing1 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 respect to the       
functions of the ,federal ,reserve      
,system1 including the supervision and  
regulation of financial institutions4   
,each such report shall specifically    
include a detailed explanation of--     
7#a7 policies and procedures that guard 
against-- 7,a7 efforts to deny access to
 or degrade1 disrupt1 or destroy any    
information and communications          
technology system or network1 or        
exfiltrate information from such a      
system or network without authorization2
  7,b7 destructive malware attacks2     
7,c7 denial of service activities2 and  
7,d7 any other efforts that1 in the     
determination of the ,board1 may        
threaten the functions of the ,federal  
,reserve ,system by undermining         
cybersecurity2 and  7#b7 activities to  
ensure the effective implementation of  

policies and procedures described under 
paragraph 7#a71 including--  7,a7 the   
appointment of qualified staff1 the     
provision of staff training1 and the use
 of accountability measures to support  
staff performance2  7,b7 deployment of  
adequate resources and technologies2    
7,c7 the development and dissemination  
of best practices regarding             
cybersecurity2 and  7,d7 as appropriate1
 efforts to strengthen cybersecurity in 
coordination with departments and       
agencies of the ,federal ,government1   
foreign central banks1 and other        
partners4  7b7 ,form of report ,the     
report required under subsection 7a7    
shall be submitted in unclassified form1
 but may include a classified annex1 if 
appropriate4  7c7 ,congressional        
briefing ,the ,chairman of the ,board of
 ,governors of the ,federal ,reserve    
,system1 or a member of the ,board of   
,governors 7as designated by the        
,chairman71 shall provide a detailed    
briefing to the appropriate ,members of 

,congress on each report submitted      
pursuant to subsection 7a74  7d7        
,appropriate members of congress defined
 ,for the purposes of this ,act1 the    
term appropriate ,members of ,congress  
means the following3 7#a7 ,the ,chairman
 and ,ranking ,member of the ,committee 
on ,financial ,services of the ,house of
 ,representatives4  7#b7 ,the ,chairman 
and ,ranking ,member of the ,committee  
on ,banking1 ,housing1 and ,urban       
,affairs of the ,senate4  7e7 ,sunset   
,the provisions of this ,act shall have 
no force or effect on or after the date 
that is #g years after the date of      
enactment of this ,act4