,,ib ,union ,calendar ,no4 #cah #aaith  
,,congress  #ast ,session  ,h4 ,r4 #ebgj
 ,report ,no4 #aai-cff ,,in ,,the       
,,house ,,of ,,representatives          
,september #aj1 #bjbe,mr4 ,huizenga 7for
 himself and ,mr4 ,barr7 introduced the 
following bill2 which was referred to   
the ,committee on ,financial ,services  
,november #d1 #bjbe;,additional sponsor3
 ,mr4 ,sessions  ,november #d1          
#bjbe,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed,strike
 out all after the enacting clause and  
insert the part printed in italic,for   
text of introduced bill1 see copy of    
bill as introduced on ,september #aj1   
#bjbe  ,a ,,bill  ,to require the ,board
 of ,governors of the ,federal ,reserve 
,system to issue rules to establish     
certain methodologies and scenarios used
 in stress testing1 and for other       
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,stress ,testing    

,accountability and ,transparency ,act4 
#b4 ,rulemaking related to stress       
capital buffer requirements  7a7 ,in    
general ,not later than #ij days after  
the date of the enactment of this       
section1 the ,board of ,governors of the
 ,federal ,reserve ,system 7in this ,act
 referred to as the ,board7 shall issue 
a rule-- 7#a7 establishing the models1  
assumptions1 formulas1 and other        
decisional methodologies that are used  
to conduct any stress test pursuant to  
section #afe7;i7 of the ,financial      
,stability ,act of #bjaj 7#ab ,u4,s4,c4 
#ecfe7;i771 including any such test that
 is used to determine any component or  
subcomponent of the stress capital      
buffer requirement for a covered        
company2 and  7#b7 to determine1 where  
the ,board has supervisory stress test  
results from two or more periodic       
analyses of a covered company1 the      
covered company's stress capital buffer 
requirement on the basis of supervisory 
stress test results from two or more    

periodic analyses of that covered       
company4  7b7 ,changes ,the ,board may  
only make material changes to the       
methodologies established in the rule   
issued under subsection 7a77#a7 through 
notice and comment rulemaking4  7c7 ,no 
double-count ,the ,board shall ensure no
 double-count of capital requirements   
for the same risks in the stress capital
 buffer requirement and the risk-based  
capital requirements4  7d7 ,definitions 
,in this section3 7#a7 ,covered company 
,the term covered company means a       
company to which section #bbe4h of title
 #ab1 ,code of ,federal ,regulations1 or
 section #bch4agj of title #ab1 ,code of
 ,federal ,regulations1 applies4  7#b7  
,stress capital buffer requirement ,the 
term stress capital buffer requirement  
has the meaning given that term under-- 
7,a7 section #bbe4h7;d7 of title #ab1   
,code of ,federal ,regulations2 and     
7,b7 section #bch4agj7;d7 of title #ab1 
,code of ,federal ,regulations4  7e7    
,rule of construction ,nothing in this  

section may be construed to imply that  
the ,board is required to establish a   
stress capital buffer requirement for   
any bank holding company or any other   
company regulated by the ,board4  #c4   
,rulemaking relating to stress testing  
7a7 ,in general ,beginning in the first 
calendar year beginning after the date  
of the enactment of this section1 the   
,board shall1 not less than #fj days    
before conducting a stress test pursuant
 to section #afe7;i7 of the ,financial  
,stability ,act of #bjaj1 publicly      
disclose each scenario to be used in    
such stress test4  7b7 ,prohibition ,the
 ,board may not1 by rule or otherwise1  
subject any nonbank financial company or
 bank holding company to a              
climate-related stress test using the   
authority provided in section #afe7;i7  
of the ,financial ,stability ,act of    
#bjaj4  #d4 ,,gao report  7a7 ,in       
general ,the ,comptroller ,general of   
the ,united ,states shall1 every #c     
years1 conduct a study and submit a     

report to the ,congress with respect to 
the stress tests conducted by the ,board
 under section #afe7;i7 of the          
,financial ,stability ,act of #bjaj in  
the #c most recent calendar years4  7b7 
,contents ,the report submitted to the  
,congress under subsection 7a7 shall    
consider the effectiveness of the stress
 tests in evaluating-- 7#a7 the safety  
and soundness of the nonbank financial  
companies and bank holding companies    
subjected to stress tests2 and  7#b7 the
 stability of the ,united ,states       
financial system4  ,november #d1        
#bjbe,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed