[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3446 Introduced in Senate (IS)]
<DOC>
118th CONGRESS
1st Session
S. 3446
To require Federal banking agencies to report on interactions with
nongovernmental international organizations, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
December 7, 2023
Mr. Braun (for himself, Mr. Hagerty, and Mr. Marshall) introduced the
following bill; which was read twice and referred to the Committee on
Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To require Federal banking agencies to report on interactions with
nongovernmental international organizations, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Banking Regulator International
Reporting Act''.
SEC. 2. REPORTING ON INTERACTIONS WITH NONGOVERNMENTAL INTERNATIONAL
ORGANIZATIONS.
(a) Board of Governors of the Federal Reserve System.--Section 10
of the Federal Reserve Act (12 U.S.C. 247b) is amended by inserting
after the tenth undesignated paragraph the following:
``(11) Reporting on interactions with nongovernmental
international organizations.--With respect to interactions
between the Board of Governors of the Federal Reserve System
and a nongovernmental international organization (including the
Financial Stability Board, the Bank for International
Settlements, the Network of Central Banks and Supervisors for
Greening the Financial System, and the Basel Committee on
Banking Supervision), the Board of Governors shall--
``(A) keep a complete record of all such
interactions, including minutes of all meetings and any
recommendations made during such interaction for
international standardization with respect to open-
market policies and operations, discount lending and
operations (including collateral policies), or
supervisory policies and operations; and
``(B) submit to the Committee on Banking, Housing,
and Urban Affairs of the Senate and the Committee on
Financial Services of the House of Representatives an
annual report containing--
``(i) all of the information recorded
pursuant to subparagraph (A) with respect to
the previous year; and
``(ii) with respect to each nongovernmental
international organization with which the Board
of Governors had an interaction in the previous
year, a description of the funding sources of
the nongovernmental international
organization.''.
(b) Office of the Comptroller of the Currency.--Section 324 of the
Revised Statutes (12 U.S.C. 1) is amended by adding at the end the
following:
``(c) Reporting on Interactions With Nongovernmental International
Organizations.--With respect to interactions between the Office of the
Comptroller of the Currency and a nongovernmental international
organization (including the Financial Stability Board, the Bank for
International Settlements, the Network of Central Banks and Supervisors
for Greening the Financial System, and the Basel Committee on Banking
Supervision), the Comptroller of the Currency shall--
``(1) keep a complete record of all such interactions,
including minutes of all meetings and any recommendations made
during such interaction for international standardization with
respect to open-market policies and operations, discount
lending and operations (including collateral policies), or
supervisory policies and operations; and
``(2) submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives an annual report
containing--
``(A) all of the information recorded pursuant to
paragraph (1) with respect to the previous year; and
``(B) with respect to each nongovernmental
international organization with which the Office of the
Comptroller of the Currency had an interaction in the
previous year, a description of the funding sources of
the nongovernmental international organization.''.
(c) Federal Deposit Insurance Corporation.--Section 2 of the
Federal Deposit Insurance Act (12 U.S.C. 1812) is amended by inserting
after subsection (f) the following:
``(g) Reporting on Interactions With Nongovernmental International
Organizations.--With respect to interactions between the Corporation
and a nongovernmental international organization (including the
Financial Stability Board, the Bank for International Settlements, the
Network of Central Banks and Supervisors for Greening the Financial
System, and the Basel Committee on Banking Supervision), the Board of
Directors shall--
``(1) keep a complete record of all such interactions,
including minutes of all meetings and any recommendations made
during such interaction for international standardization with
respect to open-market policies and operations, discount
lending and operations (including collateral policies), or
supervisory policies and operations; and
``(2) submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives an annual report
containing--
``(A) all of the information recorded pursuant to
paragraph (1) with respect to the previous year; and
``(B) with respect to each nongovernmental
international organization with which the Corporation
had an interaction in the previous year, a description
of the funding sources of the nongovernmental
international organization.''.
(d) National Credit Union Administration.--Section 102 of the
Federal Credit Union Act (12 U.S.C. 1752a) is amended by adding at the
end the following:
``(g) Reporting on Interactions With Nongovernmental International
Organizations.--With respect to interactions between the Administration
and a nongovernmental international organization (including the
Financial Stability Board, the Bank for International Settlements, the
Network of Central Banks and Supervisors for Greening the Financial
System, and the Basel Committee on Banking Supervision), the Board
shall--
``(1) keep a complete record of all such interactions,
including minutes of all meetings and any recommendations made
during such interaction for international standardization with
respect to open-market policies and operations, discount
lending and operations (including collateral policies), or
supervisory policies and operations; and
``(2) submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives an annual report
containing--
``(A) all of the information recorded pursuant to
paragraph (1) with respect to the previous year; and
``(B) with respect to each nongovernmental
international organization with which the
Administration had an interaction in the previous year,
a description of the funding sources of the
nongovernmental international organization.''.
(e) Federal Housing Finance Administration.--Section 1311 of the
Federal Housing Enterprises Financial Safety and Soundness Act of 1992
(12 U.S.C. 4511) is amended by adding at the end the following:
``(d) Reporting on Interactions With Nongovernmental International
Organizations.--With respect to interactions between the Agency and a
nongovernmental international organization (including the Financial
Stability Board, the Bank for International Settlements, the Network of
Central Banks and Supervisors for Greening the Financial System, and
the Basel Committee on Banking Supervision), the Director shall--
``(1) keep a complete record of all such interactions,
including minutes of all meetings and any recommendations made
during such interaction for international standardization with
respect to open-market policies and operations, discount
lending and operations (including collateral policies), or
supervisory policies and operations; and
``(2) submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives an annual report
containing--
``(A) all of the information recorded pursuant to
paragraph (1) with respect to the previous year; and
``(B) with respect to each nongovernmental
international organization with which the Federal
Housing Finance Agency had an interaction in the
previous year, a description of the funding sources of
the nongovernmental international organization.''.
(f) Securities and Exchange Commission.--Section 23 of the
Securities Exchange Act of 1934 (15 U.S.C. 78w) is amended by adding at
the end the following:
``(e) Reporting on Interactions With Nongovernmental International
Organizations.--With respect to interactions between the Commission and
a nongovernmental international organization (including the Financial
Stability Board, the Bank for International Settlements, the Network of
Central Banks and Supervisors for Greening the Financial System, and
the Basel Committee on Banking Supervision), the Commission shall--
``(1) keep a complete record of all such interactions,
including minutes of all meetings and any recommendations made
during such interaction for international standardization with
respect to open-market policies and operations, discount
lending and operations (including collateral policies), or
supervisory policies and operations; and
``(2) submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives an annual report
containing--
``(A) all of the information recorded pursuant to
paragraph (1) with respect to the previous year; and
``(B) with respect to each nongovernmental
international organization with which the Commission
had an interaction in the previous year, a description
of the funding sources of the nongovernmental
international organization.''.
<all>