H.R. 3465 — Introduced in House

I 118th CONGRESS 1st Session H. R. 3465 IN THE HOUSE OF REPRESENTATIVES May 18, 2023Mr. Barr (for himself and Mr. Loudermilk) introduced the following bill; which was referred to the Committee on Financial Services A BILL To enhance Federal Deposit Insurance Corporation transparency. 1. Federal Deposit Insurance Corporation transparency Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. 1823) is amended— (1) in paragraph (1)(C), by inserting after taken the following: after notification to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate and; (2) in paragraph (4)— (A) in subparagraph (B)(i)(I), by striking a present-value and inserting an expected present-value; and (B) in subparagraph (G)— (i) in clause (i)— (I) by inserting after notification to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate and before upon the; and (II) in subclause (II), by striking would and inserting that can be shown to; (ii) in clause (iii)(I), by inserting before the semicolon the following: , including documentation of factors, empirical analyses, and data that gave rise to the determination; and (iii) by adding at the end the following: (vi) Additional reports to Congress on emergency determinations (I) In general With respect to each determination under clause (i), the Board of Directors, the Board of Governors of the Federal Reserve System, and the Secretary of the Treasury shall each provide to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate— (aa) not later than 3 days after such determination, all documentation related to such determination, including staff analyses and memoranda; and (bb) not later than 30 days after such determination, any analyses undertaken to justify such determination, including data, metrics used, and quantitative analyses undertaken. (II) Information requested by committees The Secretary of the Treasury shall provide the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate with such additional information related to a determination under clause (i) as the committees may request. The Secretary of the Treasury may submit, with such information, a written request and justification for the committees to treat the information confidentially. ; and (3) in paragraph (8)(B), after in writing by inserting , shall include details of factors that led to the determination and analyses of those factors and their implications.