H.R. 3355 IH – Ensuring U.S. Authority over U.S. Banking Regulations Act

Bill Direct Link: https://www.govinfo.gov/app/details/BILLS-119hr3355ih

SECTION 1. SHORT TITLE

This Act may be cited as the ‘‘Ensuring U.S. Authority over U.S. Banking Regulations Act’’.

SECTION 2. REPORT ON CERTAIN CLIMATE-RELATED ACTIONS WITH COVERED INTERNATIONAL ORGANIZATIONS

In general, a Federal banking regulator may not meet with or otherwise engage with a covered international organization on the topic of climate-related financial risk during a calendar year unless the Federal banking regulator has issued a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing:

(1) A complete description of the activities of the covered international organization in which the Federal banking regulator participates (including any task force, committee, or other organizational unit thereof);
(2) A detailed accounting of the governmental and non-governmental funding sources of the covered international organization (including any task force, committee, or other organizational unit there-of).

Dfinitions

(1) Covered International Organization.

The term ‘‘covered international organization’’ means the Financial Stability Board, the Network of Central Banks and Supervisors for Greening the Financial System, and the Basel Committee on Banking Supervision.

(2) Federal Banking Regulator.

The term ‘‘Federal banking regulator’’ means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency.

SECTION 3. REPORT ON CERTAIN CLIMATE-RELATED INTER-ACTIONS WITH COVERED INTERNATIONAL ORGANIZATIONS

a Federal banking regulator may not meet with or otherwise engage with a covered international organization on the topic of climate-related financial risk during a calendar year unless the Federal banking regulator has issued a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing, for the previous calendar year:

(1) a complete description of the activities of the covered international organization in which the Federal banking regulator participates (including any task force, committee, or other organizational unit thereof);
(2) a detailed accounting of the governmental and non-governmental funding sources of the covered international organization (including any task force, committee, or other organizational unit there-of).