Summary: H.R.2043 — 108th Congress (2003-2004)All Information (Except Text)

There is one summary for H.R.2043. Bill summaries are authored by CRS.

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Introduced in House (05/09/2003)

United States Financial Policy Committee For Fair Capital Standards Act - Establishes an inter-agency United States Financial Policy Committee to develop uniform U.S. positions on proposals made to, and issues before, the Basel Committee on Banking Supervision that, if implemented, may directly or indirectly affect U.S. financial institutions.

Prohibits any Federal banking agency from agreeing to any proposed recommendation of the Basel Committee before the agency reports on it to the Congress.

Requires such agencies, before reporting to Congress with respect to the New Basel Capital Accord, as revised through the Third Consultative Paper published on April 29, 2003, or any subsequent revisions or final agreement, to evaluate its impact, taking specified factors into account.