,i #aah? ,,congress #b;d ,session ,h4 ,r4 #ieab ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,septemb] #aj1 #bjbd,mr4 ,b>r introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices1 & 9 addition to ! ,committee on ,rules1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to protect ! sov]eignty ( ! ,unit$ ,/ates & /r5g!n ,congress's ov]sight ( ! activities ( ! ,f$]al f9ancial ag5cies by improv+ acc\ntability & transp>5cy ) respect to ! effect ( memb]%ip & p>ticipation 9 cov]$ int]national organizations on ! /atutes1 regulations1 & guidance applicable to companies 9 ! ,unit$ ,/ates1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,congressional ,bank+ ,regulation ,priorities & ,acc\ntability ,act ( #bjbd4 #b4 ,memb]%ip & p>ticipation 9 cov]$ int]national organizations 7a7 ,congressional notice & consultation 7#a7 ,9 g5]al ,a ,f$]al f9ancial ag5cy may n jo91 become a memb] or obs]v] (1 or o!rwise p>ticipate 91 any cov]$ int]national organization t ! ag5cy 0 n a memb] or obs]v] (1 or p>ticipant 91 be=e ! date ( enactm5t ( ?is ,act1 unless ! ag5cy-- 7,a7 submits a notice to ! appropriate congressional committees2 & 7,b7 notifies ! cov]$ int]national organization t ! ag5cy is subject to-- 7i7 ?is ,act2 & 7ii7 sub*apt] ,,ii ( *apt] #e ( title #e1 ,unit$ ,/ates ,code1 & *apt] #g ( su* title 7commonly kn[n z ! ,adm9i/rative ,proc$ure ,act74 7#b7 ,notice cont5ts ,a notice describ$ "u p>agraph 7#a7 %all be 9 writ+ & conta9-- 7,a7 an ov]view ( ! cov]$ int]national organization2 7,b7 ! *>t] ( ! cov]$ int]national organization2 7,c7 a li/ ( curr5t memb]s & obs]v]s ( ! cov]$ int]national organization2 7,d7 ! "w t ! cov]$ int]national organization engages 9 & h[ t "w relates to ! /atutory m&ates & responsibilities ( ! ,f$]al f9ancial ag5cy2 7,e7 ! objectives t ! ,f$]al f9ancial ag5cy int5ds to pursue 9 con=mity ) ! cov]$ int]national organization's objectives2 7,f7 ! expectations t ! cov]$ int]national organization has ) respect to ! memb]s & obs]v]s ( ! cov]$ int]national organization2 7,g7 commitm5ts requir$ = memb]%ip 9 ! cov]$ int]national organization2 7,h7 id5tification ( fund+ s\rces = ! cov]$ int]national organization's op]at+ exp5ses2 7,i7 ! role t ! ,f$]al f9ancial ag5cy w play 91 & ! ext5t ( ! ,f$]al f9ancial ag5cy's p>ticipation 91 ! cov]$ int]national organization2 & 7,j7 su* o!r in=mation z may be reque/$ by ! appropriate congressional committees4 7b7 ,delay = congressional consid]ation2 effect ( jo9t resolution ( disapproval ,) respect to an action describ$ 9 a notice submitt$ "u subsection 7a7 9 connection ) a cov]$ int]national organization-- 7#a7 ! ,f$]al f9ancial ag5cy may n take su* action until ! end ( ! #fj-;day p]iod beg9n+ on ! date ! notice 0 submitt$2 & 7#b7 if a jo9t resolution ( disapproval describ$ "u subsection 7c7 ) respect to ! notice is enact$ be=e ! end ( ! #fj-;day p]iod describ$ "u p>agraph 7#a71 ! ,f$]al f9ancial ag5cy may n take su* action4 7c7 ,jo9t resolution ( disapproval 7#a7 ,jo9t resolution ( disapproval ,9 ?is subsection1 ! t]m jo9t resolution ( disapproval means only a jo9t resolution introduc$ dur+ ! #fj-;day p]iod describ$ "u subsection 7b7-- 7,a7 ! title ( :i* is z foll[s3 ,a jo9t resolution disapprov+ a ,f$]al f9ancial ag5cy's p>ticipation 9 a cov]$ int]national organization42 & 7,b7 ! sole matt] aft] ! resolv+ clause ( :i* is ! foll[+3 ,congress disapproves ( ! p>ticipation ( ) 1 z describ$ 9 ! notice submitt$ to ! appropriate congressional committees on 1 & ! ag5cy may n s p>ticipate41 ) ! fir/ blank space be+ fill$ ) ! appropriate "n ( ! ,f$]al f9ancial ag5cy submitt+ ! notice1 ! second blank space be+ fill$ ) ! "n ( ! applicable cov]$ int]national organization1 & ! ?ird blank space be+ fill$ ) ! date on :i* ! notice "u subsection 7a7 0 submitt$ to ! appropriate congressional committees4 7#b7 ,floor consid]ation 9 ,h\se ( ,repres5tatives ,if a committee ( ! ,h\se ( ,repres5tatives to :i* a jo9t resolution ( disapproval has be5 ref]r$ has n report$ ! jo9t resolution )9 #aj cal5d> days aft] ! date ( ref]ral1 t committee %all be dis*>g$ f fur!r consid]ation ( ! jo9t resolution4 7#c7 ,consid]ation 9 ! ,s5ate 7,a7 ,committee ref]ral ,a jo9t resolution ( disapproval introduc$ 9 ! ,s5ate %all be ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs4 7,b7 ,report+ & dis*>ge ,if ! committee to :i* a jo9t resolution ( disapproval 0 ref]r$ has n report$ ! jo9t resolution )9 #aj cal5d> days aft] ! date ( ref]ral ( ! jo9t resolution1 t committee %all be dis*>g$ f fur!r consid]ation ( ! jo9t resolution & ! jo9t resolution %all be plac$ on ! appropriate cal5d>4 7,c7 ,proce$+ to consid]ation ,not)/&+ ,rule ,,xxii ( ! ,/&+ ,rules ( ! ,s5ate1 x is 9 ord] at any "t aft] ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs reports a jo9t resolution ( disapproval to ! ,s5ate or has be5 dis*>g$ f consid]ation ( su* a jo9t resolution 7ev5 ?\gh a previ\s motion to ! same effect has be5 disagre$ to7 to move to proce$ to ! consid]ation ( ! jo9t resolution1 & all po9ts ( ord] aga9/ ! jo9t resolution 7& aga9/ consid]ation ( ! jo9t resolution7 are waiv$4 ,! motion to proce$ is n debatable4 ,! motion is n subject to a motion to po/pone4 ,a motion to reconsid] ! vote by :i* ! motion is agre$ to or disagre$ to %all n be 9 ord]4 7,d7 ,rul+s ( ! *air on proc$ure ,appeals f ! decisions ( ! ,*air relat+ to ! application ( ! rules ( ! ,s5ate1 z ! case may be1 to ! proc$ure relat+ to a jo9t resolution ( disapproval %all be decid$ )\t debate4 7,e7 ,consid]ation ( veto messages ,debate 9 ! ,s5ate ( any veto message ) respect to a jo9t resolution ( disapproval1 includ+ all debatable motions & appeals 9 connection ) ! jo9t resolution1 %all be limit$ to #aj h\rs1 to be equally divid$ betwe51 & controll$ by1 ! majority lead] & ! m9ority lead] or _! designees4 7#d7 ,rules relat+ to ,s5ate & ,h\se ( ,repres5tatives 7,a7 ,treatm5t ( ,s5ate jo9t resolution 9 ,h\se ,9 ! ,h\se ( ,repres5tatives1 ! foll[+ proc$ures %all apply to a jo9t resolution ( disapproval receiv$ f ! ,s5ate 7unless ! ,h\se has already pass$ a jo9t resolution relat+ to ! same propos$ action73 7i7 ,! jo9t resolution %all be ref]r$ to ! ,committee on ,f9ancial ,s]vices4 7ii7 ,if a committee to :i* a jo9t resolution has be5 ref]r$ has n report$ ! jo9t resolution )9 #b cal5d> days aft] ! date ( ref]ral1 t committee %all be dis*>g$ f fur!r consid]ation ( ! jo9t resolution4 7iii7 ,beg9n+ on ! ?ird legislative day aft] ea* committee to :i* a jo9t resolution has be5 ref]r$ reports ! jo9t resolution to ! ,h\se or has be5 dis*>g$ f fur!r consid]ation !re(1 x %all be 9 ord] to move to proce$ to consid] ! jo9t resolution 9 ! ,h\se4 ,all po9ts ( ord] aga9/ ! motion are waiv$4 ,su* a motion %all n be 9 ord] aft] ! ,h\se has dispos$ ( a motion to proce$ on ! jo9t resolution4 ,! previ\s "q %all be consid]$ z ord]$ on ! motion to its adoption )\t int]v5+ motion4 ,! motion %all n be debatable4 ,a motion to reconsid] ! vote by :i* ! motion is dispos$ ( %all n be 9 ord]4 7iv7 ,! jo9t resolution %all be consid]$ z read4 ,all po9ts ( ord] aga9/ ! jo9t resolution & aga9/ its consid]ation are waiv$4 ,! previ\s "q %all be consid]$ z ord]$ on ! jo9t resolution to f9al passage )\t int]v5+ motion except #b h\rs ( debate equally divid$ & controll$ by ! sponsor ( ! jo9t resolution 7or a designee7 & an oppon5t4 ,a motion to reconsid] ! vote on passage ( ! jo9t resolution %all n be 9 ord]4 7,b7 ,treatm5t ( ,h\se jo9t resolution 9 ,s5ate 7i7 ,if1 be=e ! passage by ! ,s5ate ( a jo9t resolution ( disapproval1 ! ,s5ate receives an id5tical jo9t resolution f ! ,h\se ( ,repres5tatives1 ! foll[+ proc$ures %all apply3 7,i7 ,t jo9t resolution %all n be ref]r$ to a committee4 7,,ii7 ,) respect to t jo9t resolution-- 7aa7 ! proc$ure 9 ! ,s5ate %all be ! same z if no jo9t resolution _h be5 receiv$ f ! ,h\se ( ,repres5tatives2 b 7bb7 ! vote on passage %all be on ! jo9t resolution f ! ,h\se ( ,repres5tatives4 7ii7 ,if1 foll[+ passage ( a jo9t resolution ( disapproval 9 ! ,s5ate1 ! ,s5ate receives an id5tical jo9t resolution f ! ,h\se ( ,repres5tatives1 t jo9t resolution %all be plac$ on ! appropriate ,s5ate cal5d>4 7iii7 ,if a jo9t resolution ( disapproval is receiv$ f ! ,h\se1 & no companion jo9t resolution has be5 introduc$ 9 ! ,s5ate1 ! ,s5ate proc$ures "u ?is subsection %all apply to ! ,h\se jo9t resolution4 7#e7 ,rules ( ,h\se ( ,repres5tatives & ,s5ate ,?is subsection is enact$ by ,congress-- 7,a7 z an ex]cise ( ! rulemak+ p[] ( ! ,s5ate & ! ,h\se ( ,repres5tatives1 respectively1 & z su* is deem$ a "p ( ! rules ( ea* ,h\se1 respectively1 & sup]s$es o!r rules only to ! ext5t t x is inconsi/5t ) su* rules2 & 7,b7 ) full recognition ( ! con/itutional "r ( ei!r ,h\se to *ange ! rules 7s f> z relat+ to ! proc$ure ( t ,h\se7 at any "t1 9 ! same mann]1 & to ! same ext5t z 9 ! case ( any o!r rule ( t ,h\se4 7d7 ,ongo+ report+ ,ea* ,f$]al f9ancial ag5cy t becomes a memb] or obs]v] (1 or o!rwise p>ticipates 91 a cov]$ int]national organization aft] ! date ( enactm5t ( ?is ,act %all1 e #b ye>s :ile ! ,f$]al f9ancial ag5cy cont9ues to be a memb] or obs]v] (1 or p>ticipant 91 ! cov]$ int]national organization1 issue a /atem5t to ! appropriate congressional committees t-- 7#a7 conta9s a ju/ification = ! ,f$]al f9ancial ag5cy's cont9u$ memb]%ip1 obs]v] /atus1 or p>ticipation2 & 7#b7 includes-- 7,a7 a description ( ! cov]$ int]national organization's objectives2 7,b7 any objectives t h be5 pursu$ by ! ,f$]al f9ancial ag5cy 9 con=mity ) ! cov]$ int]national organization's objectives2 7,c7 an explanation ( :e!r ! ,f$]al f9ancial ag5cy's objectives )9 ! cov]$ int]national organization h be5 met2 7,d7 an explanation ( :e!r !re h be5 *anges 9 ! ,f$]al f9ancial ag5cy's objectives = su* ongo+ & cont9u$ memb]%ip1 obs]v] /atus1 or p>ticipation 9 ! cov]$ int]national organization2 & 7,e7 any objectives t h be5 pursu$ by ! ,f$]al f9ancial ag5cy 9 con=mity ) ! int]national organization's objectives4 7e7 ,calculation ( "t p]iods 7#a7 ,9 g5]al ,9 ?is section1 = purposes ( calculat+ a p]iod ( "t1 ! t]m day does n include days ei!r ,h\se ( ,congress is adj\rn$ = m ?an #c days dur+ a session ( ,congress4 7#b7 ,exception ,p>agraph 7#a7 %all n apply to any ref]5ce to a cal5d> day or a legislative day4 #c4 ,developm5t & implem5tation ( new int]national policies1 /&>ds1 & recomm5dations 7a7 ,congressional notice & consultation dur+ developm5t 7#a7 ,9 g5]al ,a ,f$]al f9ancial ag5cy may n negotiate1 p>ticipate1 or o!rwise delib]ate1 sign1 vote =1 agree to1 f9alize1 or o!rwise conclude any new policies1 /&>ds1 or recomm5dations t are be+ develop$ by a cov]$ int]national organization unless ! ag5cy submits a notice to ! appropriate congressional committees at lea/ #ij days be=e tak+ su* action4 7#b7 ,notice cont5ts ,a notice describ$ "u p>agraph 7#a7 %all be 9 writ+ & conta9-- 7,a7 a summ>y ( ! issues to be discuss$1 includ+ ! policies1 /&>ds1 or recomm5dations t ! ,f$]al f9ancial ag5cy int5ds to negotiate1 p>ticipate1 or o!rwise delib]ate1 sign1 vote =1 agree to1 f9alize1 or o!rwise conclude2 7,b7 a summ>y ( ! propos$ new policies1 /&>ds or recomm5dations2 7,c7 a draft ( ! propos$ new policies1 /&>ds1 or recomm5dations1 if appropriate2 7,d7 a plan = h[ ! ,f$]al f9ancial ag5cy w promote ,u4,s4 economic gr[?1 f9ancial /ability1 & ! competitiv5ess ( ! ,u4,s4 f9ancial sy/em dur+ any negotiation1 p>ticipation1 or delib]ation2 & 7,e7 a full /atem5t ( ! s*$ule & objectives ( ! negotiations1 discussions1 or delib]ations4 7b7 ,ongo+ requirem5ts dur+ developm5t ,) respect to negotiations1 discussions or delib]ations on any new policies1 /&>ds1 or recomm5dations describ$ "u subsection 7a71 ! ,f$]al f9ancial ag5cy %all-- 7#a7 in=m ! appropriate congressional committees qu>t]ly on ! developm5ts affect+ su* policies1 /&>ds1 or recomm5dations2 7#b7 notify ! appropriate congressional committees ( new ,f$]al policy1 guidance1 or regulations t may be propos$ to implem5t ! new policies1 /&>ds1 or recomm5dations2 7#c7 ^u reque/1 meet ) ! appropriate congressional committees to discuss ! /atus ( ! negotiations1 discussions or delib]ations2 & 7#d7 ^u reque/1 provide ! appropriate congressional committees ) access to docum5ts relat+ to ! negotiations1 discussions or delib]ations1 includ+ classifi$ mat]ials or mat]ials t o!rwise conta9 confid5tial in=mation 9 a secur$ environm5t4 7c7 ,congressional notice on f9aliz$ policies1 /&>ds1 or recomm5dations ,a ,f$]al f9ancial ag5cy may n act to f9alize a policy1 /&>d1 or recomm5dation describ$ "u subsection 7a7 by a cov]$ int]national organization unless ! ,f$]al f9ancial ag5cy submits a notice to ! appropriate congressional committees conta9+-- 7#a7 ! text ( ! policies1 /&>ds1 or recomm5dations1 includ+ any implem5t+ mat]ial1 annex1 app5dix1 side lett]1 or simil> docum5t ent]$ into contemporane\sly & 9 conjunction ) ! und]ly+ /&>d or recomm5dation2 7#b7 a description ( any am5dm5ts to ,f$]al /atute1 regulation1 or guidance1 or *ange to sup]visory practices1 ! ,f$]al f9ancial ag5cy anticipates are necess>y to implem5t ! new policies1 /&>ds1 or recomm5dations2 & 7#c7 a ju/ification1 ) quantitative & analytical support1 sett+ =? h[ ! policies1 /&>ds1 or recomm5dations s]ve ! int]e/s ( ! ,unit$ ,/ates f9ancial sy/em & comm]ce4 7d7 ,requirem5ts on implem5t+ policies1 /&>ds1 & recomm5dations ,a ,f$]al f9ancial ag5cy may n issue any policy *ange1 rule1 or guidance int5d$ to implem5t any policies1 /&>ds1 or recomm5dations develop$ by a cov]$ int]national organization unless ! ,f$]al f9ancial ag5cy-- 7#a7 notifies ! appropriate congressional committees2 7#b7 provides ! appropriate congressional committees 7& publi%es publicly7 a ju/ification1 ) quantitative & analytical support1 = :y ! policies1 /&>ds1 or recomm5dations develop$ by ! cov]$ int]national organization are suitable = ! national security1 f9ancial /ability1 economic1 & o!r int]e/s ( ! ,unit$ ,/ates2 & 7#c7 provides ! appropriate congressional committees 7& publi%es publicly7-- 7,a7 an analysis1 includ+ a detail$ co/-b5efit analysis1 ( ! implem5tation ( ! policy *ange1 rule1 or guidance2 & 7,b7 a ju/ification = :y ! expect$ co/s ( su* implem5tation are at lea/ (fset by ! expect$ b5efits relat$ to economic1 national security1 f9ancial /ability1 or o!r national int]e/s4 #d4 ,public reports on p>ticipation 9 cov]$ int]national organizations ,n lat] ?an ,m>* #ca ( ea* ye>1 ea* ,f$]al f9ancial ag5cy %all publi% a public report & provide te/imony to ! appropriate congressional committees on ! activities ( ! ag5cy ) ea* cov]$ int]national organization t ! ,f$]al f9ancial ag5cy jo9$1 0 a memb] or obs]v] (1 engag$ )1 or o!rwise p>ticipat$ 9 dur+ ! prec$+ ye>4 #e4 ,application to ,f$]al res]ve banks ,?is ,act %all apply to ea* ,f$]al res]ve bank to ! same ext5t z ?is ,act applies to a ,f$]al f9ancial ag5cy1 except t any action t a ,f$]al res]ve bank w\ld be requir$ to take "u ?is ,act %all be tak5 by ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 on behalf ( ! ,f$]al res]ve bank4 #f4 ,def9itions ,9 ?is ,act3 7#a7 ,appropriate congressional committees ,! t]m appropriate congressional committees means ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate4 7#b7 ,f$]al f9ancial ag5cy ,! t]m ,f$]al f9ancial ag5cy means-- 7,a7 ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em2 7,b7 ! ,bureau ( ,consum] ,f9ancial ,protection2 7,c7 ! ,f$]al ,deposit ,insurance ,corporation2 7,d7 ! ,national ,cr$it ,union ,adm9i/ration2 7,e7 ! ,(fice ( ! ,comptroll] ( ! ,curr5cy2 7,f7 ! ,f$]al ,h\s+ ,f9ance ,ag5cy2 7,g7 ! ,f$]al ,insurance ,(fice2 & 7,h7 ! ,securities & ,ex*ange ,commission4 7#c7 ,cov]$ int]national organization 7,a7 ,9 g5]al ,! t]m cov]$ int]national organization means any association or union ( nations ?r\gh or by :i* two or m =eign gov]nm5ts engage 9 "s aspect ( _! conduct ( int]national affairs1 includ+-- 7i7 ! ,bank = ,int]national ,settlem5ts2 7ii7 ! ,basel ,committee on ,bank+ ,sup]vision2 7iii7 ! ,committee on ,paym5ts & ,m>ket ,infra/ructures2 7iv7 ! ,c\ncil ( ,securities ,regulators ( ! ,am]icas2 7v7 ! ,f9ancial ,/ability ,bo>d2 7vi7 ! ,global ,f9ancial ,innovation ,network2 7vii7 ! ,,ifrs ,f\ndation ,monitor+ ,bo>d2 7viii7 ! ,int]national ,association ( ,deposit ,insur]s2 7ix7 ! ,int]national ,association ( ,insurance ,sup]visors2 7x7 ! ,int]national ,organization ( ,securities ,commissions2 7xi7 ! ,monitor+ ,gr\p2 7xii7 ! ,network ( ,c5tral ,banks & ,sup]visors = ,gre5+ ! ,f9ancial ,sy/em2 7xiii7 ! ,organization = ,economic ,coop]ation & ,developm5t2 & 7xiv7 any committee1 subcommittee1 work+ gr\p1 task =ce1 or o!r subunit ( an organization describ$ "u clause 7i7 ?r\gh 7xiii74 7,b7 ,exception ,! t]m cov]$ int]national organization does n include-- 7i7 int]national f9ancial in/itutions1 z def9$ 9 section #agja7;c77#b7 ( ! ,int]national ,f9ancial ,in/itutions ,act 7#bb ,u4,s4,c4 #bfbr7c77#b772 or 7ii7 any int]national organization ) respect to :i* a ,f$]al f9ancial ag5cy p>ticipates pursuant to a treaty to :i* ! ,unit$ ,/ates is a p>ty4