,,ii  #aai? ,,congress  #a/ ,session    
,s4 #cddg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #aa1 #bjbe,mr4
 ,mc,cormick 7= himself & ,mrs4 ,%ahe57 
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,f9ancial ,/ability  
,act ( #bjaj to e/abli% an advisory     
committee on economic impacts ( milit>y 
escalation by ! ,p's ,republic ( ,*9a   
t[>d ,taiwan1 & = o!r purposes4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,=tify+ ,unit$ ,/ates ,m>kets ,aga9/    
,,prc ,milit>y ,escalation ,act ( #bjbe4
  #b4 ,advisory committee on economic   
impacts ( milit>y escalation by ! ,p's  
,republic ( ,*9a t[>d ,taiwan ,section  
#aaa ( ! ,f9ancial ,/ability ,act (     
#bjaj 7#ab ,u4,s4,c4 #ecba7 is am5d$ by 
add+ at ! end ! foll[+3  7k7 ,advisory  
committee  7#a7 ,e/abli%m5t ,!re is     
e/abli%$1 to advise ! ,f9ancial         
,/ability ,ov]sight ,c\ncil1 an         
,advisory ,committee on ,economic       

,impacts ( ,milit>y ,escalation by !    
,p's ,republic ( ,*9a t[>d ,taiwan 79   
?is subsection ref]r$ to z ! ,advisory  
,committee7 to-- 7,a7 /udy & report on !
 m>ket implications & vuln]abilities    
relat$ to milit>y escalation by ! ,p's  
,republic ( ,*9a t[>d ,taiwan2 &  7,b7  
op5 l9es ( communication betwe5 policy  
mak]s1 gov]nm5t ag5cies1 & capital m>ket
 con/itu5ts to prep>e = a pot5tial      
response to1 & to mitigate economic /ra9
 & m>ket volatility relat$ to1 any su*  
escalation4  7#b7 ,memb]s  7,a7 ,9 g5]al
 ,! ,advisory ,committee %all consi/ (--
 7i7 a designee ( ! ,securities &       
,ex*ange ,commission2  7ii7 a designee (
 ! ,commodity ,futures ,trad+           
,commission2  7iii7 a designee ( ! ,bo>d
 ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em2 
&  7iv7 #aj memb]s to be appo9t$ by !   
*airp]son ( ! ,advisory ,committee f    
among p]sons :o are-- 7,i7 nongov]nm5tal
 p>ticipants 9 capital m>kets1 includ+  
m>ket mak]s1 banks1 asset manag]s1      
ex*anges1 & in/itutional inve/ors2 &    

7,,ii7 exp]ts on geopolitical risk      
relat$ to ! ,p's ,republic ( ,*9a4  7,b7
 ,*airp]son ,! ,secret>y ( ! ,treasury  
%all s]ve z ! *airp]son ( ! ,advisory   
,committee4  7,c7 ,private sector lead  
,"o ( ! memb]s appo9t$ "u subp>agraph   
7,a77iv7 %all s]ve z ! private sector   
lead = ! ,advisory ,committee4  7#c7    
,meet+s ,! ,advisory ,committee %all    
meet 9 p]son at lea/ #b times p] ye>1 ) 
additional meet+s at ! call ( !         
*airp]son4  7#d7 ,/udy & recomm5dations 
,n lat] ?an #c ye>s aft] ! date ( !     
enactm5t ( ?is subsection1 & e #c ye>s  
!reaft]1 ! ,advisory ,committee %all--  
7,a7 conduct a /udy ( ! vuln]abilities (
 ! ,unit$ ,/ates economy1 m>kets1 & !   
f9ancial sy/em relat$ to milit>y        
escalation ( ! ,p's ,republic ( ,*9a    
t[>d ,taiwan t includes an assessm5t (--
 7i7 ! e/imat$ total co/ to ! ,unit$    
,/ates economy f su* escalation2  7ii7 !
 m>ket impacts & pot5tial losses fac$ by
 ,unit$ ,/ates & global m>kets relat$ to
 su* escalation2  7iii7 ! capacity (    

,unit$ ,/ates m>kets to deal )          
volatility t c\ld result f su*          
escalation2  7iv7 ! impact ( su*        
escalation on securities issu$ by       
entities organiz$ "u ! laws ( ! ,p's    
,republic ( ,*9a or ,taiwan & li/$ on a 
national securities ex*ange 9 ! ,unit$  
,/ates2 &  7v7 ! likelihood & pot5tial  
impact ( r$uctions 9 hold+s by ! ,p's   
,republic ( ,*9a ( debt securities issu$
 by ! ,dep>tm5t ( ! ,treasury2  7,b7    
develop & submit to ! ,c\ncil           
recomm5dations & support+ analysis bas$ 
on ! results ( ! /udy2  7,c7 brief      
,congress & ! ,secret>y ( ,/ate on !    
/udy conduct$ "u subp>agraph 7,a7 & !   
recomm5dations develop$ "u subp>agraph  
7,b72 &  7,d7 hold a public meet+ to    
pres5t ! recomm5dations & analysis      
requir$ by subp>agraph 7,b71 omitt+ any 
portions ( su* recomm5dations or        
analysis t implicate national security  
conc]ns4  4