3.0.0 5194 2022-10-28T02:00:25Z 2022-10-28T02:00:25Z House HR 2019-11-20 116 [Congressional Record Volume 165, Number 186 (Wednesday, November 20, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CASTEN of Illinois:H.R. 5194.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 8 of the Constitution of theUnited States=========================== NOTE ===========================November 20, 2019, on page H9122, the following appeared: By Mr.CASTEN: H.R. 5194. Congress has the power to enact thislegislation pursuant to the following: Article I, Section 8,Clause 8 of the Constitution of the United StatesThe online version has been corrected to read: By Mr. CASTEN ofIllinois: H.R. 5194. Congress has the power to enact thislegislation pursuant to the following: Article I, Section 8,Clause 8 of the Constitution of the United States========================= END NOTE =========================[Page H9122]]]> hsif00 Energy and Commerce Committee House Standing hsif18 Environment, Manufacturing, and Critical Materials Subcommittee Referred to 2019-11-21T16:54:10Z Referred to 2019-11-20T15:00:12Z hsba00 Financial Services Committee House Standing Referred to 2019-11-20T15:00:07Z Climate Change Financial Risk Act of 2019 116 2903 S 2019-11-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2019-11-21 hsif18 Environment, Manufacturing, and Critical Materials Subcommittee 1 House committee actions Referred to the Subcommittee on Environment and Climate Change. Committee 2019-11-20 Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2019-11-20 Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-11-20 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-11-20 Introduced in House IntroReferral 1000 9 Library of Congress C001117 Rep. Casten, Sean [D-IL-6] Sean Casten D IL 6 N W000826 Rep. Wild, Susan [D-PA-7] Susan Wild D PA 7 2019-11-20 True T000469 Rep. Tonko, Paul [D-NY-20] Paul Tonko D NY 20 2019-11-20 True B001285 Rep. Brownley, Julia [D-CA-26] Julia Brownley D CA 26 2019-11-20 True B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 2019-11-20 True K000379 Rep. Kennedy, Joseph P., III [D-MA-4] Joseph Kennedy D MA P. 4 2019-11-20 True P000608 Rep. Peters, Scott H. [D-CA-52] Scott Peters D CA H. 52 2019-11-20 True L000562 Rep. Lynch, Stephen F. [D-MA-8] Stephen Lynch D MA F. 8 2019-11-21 False V000130 Rep. Vargas, Juan [D-CA-51] Juan Vargas D CA 51 2019-12-06 False G000571 Rep. Gabbard, Tulsi [D-HI-2] Tulsi Gabbard D HI 2 2019-12-06 False L000593 Rep. Levin, Mike [D-CA-49] Mike Levin D CA 49 2020-08-11 False Q000023 Rep. Quigley, Mike [D-IL-5] Mike Quigley D IL 5 2020-08-11 False C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2020-08-11 False D000631 Rep. Dean, Madeleine [D-PA-4] Madeleine Dean D PA 4 2020-09-16 False G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2020-09-16 False Finance and Financial Sector Advisory bodies Air quality Bank accounts, deposits, capital Banking and financial institutions regulation Climate change and greenhouse gases Congressional oversight Economic performance and conditions Farmland Federal Reserve System Financial Stability Oversight Council Financial crises and stabilization Fires Floods and storm protection Foreign and international banking International organizations and cooperation Land use and conservation Marine and coastal resources, fisheries Finance and Financial Sector 00 2019-11-20 Introduced in House 2021-01-19T19:28:23Z Climate Change Financial Risk Act of 2019

This bill addresses climate change risk and its potential impact on the financial system.

The Federal Reserve Board must develop financial risk analyses relating to climate change for specified large nonbank financial companies and bank holding companies. Specifically, these entities will be evaluated every two years on whether they have the capital necessary to absorb financial losses that would arise under several different climate change risk scenarios.

The bill also establishes the Climate Risk Scenario Technical Development Group to provide recommendations to the board regarding such climate change risk scenarios, and determine the financial and economic risks of these scenarios.

The Financial Stability Oversight Council of the Department of the Treasury must establish a subcommittee to assist it in identifying risks and responding to threats to the financial system as a result of climate change.

]]> Climate Change Financial Risk Act of 2019 Display Title Climate Change Financial Risk Act of 2019 Official Title as Introduced To require the Board of Governors of the Federal Reserve System, in consultation with the heads of other relevant Federal agencies, to develop financial risk analyses relating to climate change, and for other purposes. Introduced in House IH Short Title(s) as Introduced Climate Change Financial Risk Act of 2019 Introduced in House IH Introduced in House 2019-11-20T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr5194ih/xml/BILLS-116hr5194ih.xml 2019-11-21 Referred to the Subcommittee on Environment and Climate Change. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.