#aai? ,,congress #a/ ,session ,h4 ,r4 #cgaf ,,an ,,act ,to am5d ! ,f$]al ,deposit ,insurance ,act to require reports on ! use ( ! sy/emic risk au?ority applicable to w9d+ up a fail$ insur$ depository in/itution1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,sy/emic ,risk ,au?ority ,transp>5cy ,act4 #b4 ,bank failure transp>5cy relat$ to sy/emic risk exception 7a7 ,,gao review ,section #ac7;c77#d77;,g77iv7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77#d77;,g77iv77 is am5d$ to read z foll[s3 7iv7 ,,gao review 7,i7 ,9 g5]al ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all1 n lat] ?an #fj days aft] a det]m9ation is made "u clause 7i71 & aga9 #ahj days !reaft]1 review & report to ! ,congress on ! det]m9ation "u clause 7i71 includ+-- 7aa7 ! basis = ! det]m9ation2 7bb7 ! purpose = :i* any action 0 tak5 pursuant to su* clause2 7cc7 ! likely effect ( ! det]m9ation & su* action on ! inc5tives & conduct ( insur$ depository in/itutions & un9sur$ depositors2 7dd7 any mismanagem5t by ! executives & bo>d ( ! insur$ depository in/itution t contribut$ to ! failure ( ! insur$ depository in/itution2 7ee7 a review ( ! comp5sation practices ( ! insur$ depository in/itution2 7ff7 any sup]visory or regulatory %ortcom+s ) respect to ! appropriate ,f$]al bank+ ag5cy ( ! insur$ depository in/itution2 7gg7 any actions tak5 by ! ,f$]al bank+ regulators1 ,f9ancial ,/ability ,ov]sight ,c\ncil1 ,dep>tm5t ( ! ,treasury1 & o!r relevant f9ancial regulators 9 relation to ! failure ( ! insur$ depository in/itution2 & 7hh7 any additional relevant entities or activities t may h contribut$ to ! failure ( ! insur$ depository in/itution1 includ+ ) respect to audit+1 acc\nt+1 cr$it rat+ ag5cies1 inve/m5t bank und]writ]s1 & em]g5cy liquidity options su* z loans f ! ,f$]al res]ve banks or advances ?r\gh ! ,f$]al ,home ,loan ,bank sy/em4 7,,ii7 ,rule ( con/ruction ,no?+ 9 ?is clause or a report issu$ pursuant to ?is clause may be con/ru$ to limit ! au?ority ( a ,f$]al ag5cy to en=ce violations ( ,f$]al /atutes1 rules1 or ord]s4 4 7b7 ,appropriate f$]al bank+ ag5cy report ,section #ac7;c7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77 is am5d$ by add+ at ! end ! foll[+3 7#ab7 ,appropriate f$]al bank+ ag5cy report 7,a7 ,9 g5]al ,! appropriate ,f$]al bank+ ag5cy ( an insur$ depository in/itution ab\t :i* a det]m9ation is made "u p>agraph 7#d77;,g77i7 %all1 n lat] ?an #ij days aft] ! date ( su* det]m9ation1 & aga9 #baj days !reaft]1 submit a report to ! ,congress t discloses ! foll[+3 7i7 ,subject to su* r$actions z ! appropriate ,f$]al bank+ ag5cy det]m9es appropriate ( p]sonally id5tifiable in=mation ab\t cu/om]s & o!r f9ancial in/itutions 7z su* t]m is def9$ "u section #aa7;e77#i77;,d771 all-- 7,i7 reports ( exam9ation & inspection t relate to ! fail$ insur$ depository in/itution 9 ! previ\s #c-ye> p]iod2 7,,ii7 =mal communications ( a mat]ial sup]visory det]m9ation convey$ to ! fail$ insur$ depository in/itution 9 ! previ\s #c-ye> p]iod2 & 7,,iii7 any additional exam reports & correspond5ce t ! appropriate ,f$]al bank+ ag5cy det]m9es may be relevant to ! failure ( ! insur$ depository in/itution4 7ii7 ,an exam9ation ( any mismanagem5t by ! executives & bo>d ( ! insur$ depository in/itution t contribut$ to ! failure ( ! insur$ depository in/itution4 7iii7 ,any sup]visory or regulatory %ortcom+s by su* appropriate ,f$]al bank+ ag5cy ) respect to ! insur$ depository in/itution4 7iv7 ,any dynamics t ! appropriate ,f$]al bank+ ag5cy det]m9es may h contribut$ to ! failure ( ! insur$ depository in/itution4 7v7 ,any sup]visory1 regulatory1 or legislative recomm5dations su* appropriate ,f$]al bank+ ag5cy may h to improve ! safety & s\ndness ( simil>ly situat$ insur$ depository in/itutions1 ! bank+ sy/em1 & f9ancial /ability4 7,b7 ,protection ( s5sitive in=mation 7i7 ,effect on privilege ,! provision ( any in=mation by a ,f$]al bank+ ag5cy "u ?is p>agraph may n be con/ru$ z-- 7,i7 waiv+1 de/roy+1 or o!rwise affect+ any privilege applicable to ! in=mation2 or 7,,ii7 waiv+ any exemption applicable to ! in=mation "u section #eeb ( title #e1 ,unit$ ,/ates ,code 7commonly kn[n z ! ,fre$om ( ,in=mation ,act74 7ii7 ,transp>5cy 7,i7 ,9 g5]al ,a ,f$]al bank+ ag5cy %all publi% mat]ials conta9$ 9 a report requir$ "u subp>agraph 7,a7 to ! fulle/ ext5t possible to promote transp>5cy4 7,,ii7 ,consultation on omitt+ mat]ials ,if a ,f$]al bank+ ag5cy det]m9es p>ticul> mat]ials describ$ "u subclause 7,i7 %\ld n be publi%$1 ! ,f$]al bank+ ag5cy %all consult ) ! *air & rank+ memb] ( ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! *air & rank+ memb] ( ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate4 7,,iii7 ,omitt+ mat]ials ,if1 aft] ! consultation requir$ "u subclause 7,,ii71 ! ,f$]al bank+ ag5cy det]m9es !re is a sub/antial public int]e/ 9 n publi%+ su* mat]ials1 ! ,f$]al bank+ ag5cy %all provide ^? mat]ials to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate ) a writt5 explanation describ+ ! reasons = n publi%+ ^? mat]ials4 7iii7 ,privilege ,= purposes ( ?is subp>agraph1 ! t]m privilege includes any "w-product1 attorney-cli5t1 or o!r privilege recogniz$ "u ,f$]al or ,/ate law4 7,c7 ,report ext5sion ,a ,f$]al bank+ ag5cy may ext5d a deadl9e describ$ "u subp>agraph 7,a7 = an additional #fj days1 if ! ,f$]al bank+ ag5cy-- 7i7 faces ongo+ circum/ances t require ! ,f$]al bank+ ag5cy to prioritize activities to promote /ability ( ! ,u4,s4 bank+ sy/em2 & 7ii7 notifies ! ,congress ( su* ext5sion & ! reasons = su* ext5sion4 7,d7 ,consolidat$ reports ,a ,f$]al bank+ ag5cy may consolidate multiple reports requir$ "u ?is p>agraph s long z ! individual reports be+ consolidat$ all meet ! tim+ requirem5ts "u ?is p>agraph4 7,e7 ,rule ( con/ruction ,no?+ 9 ?is p>agraph or reports or mat]ials provid$ pursuant to ?is p>agraph may be con/ru$ to limit ! au?ority ( a ,f$]al ag5cy to en=ce violations ( ,f$]al /atutes1 rules1 or ord]s4 4 ,pass$ ! ,h\se ( ,repres5tatives ,decemb] #a1 #bjbe4;,cl]k4