3.0.0 2903 2022-10-28T02:00:26Z 2022-10-28T02:00:26Z Senate S 2019-11-20 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2019-11-20T15:44:51Z Climate Change Financial Risk Act of 2019 116 5194 HR 2019-11-21 Referred to the Subcommittee on Environment and Climate Change. Identical bill CRS 2019-11-20 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2019-11-20 Introduced in Senate IntroReferral 10000 9 Library of Congress S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI N W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2019-11-20 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2019-11-20 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2019-11-20 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2019-11-20 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2019-11-20 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2019-11-20 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2019-11-20 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2019-11-20 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2019-11-20 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2020-07-28 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 Senate 2021-01-21T19:52:34Z 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 Short Title(s) as Introduced Climate Change Financial Risk Act of 2019 Introduced in Senate IS Official Title as Introduced A bill 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 Senate IS Introduced in Senate 2019-11-20T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2903is/xml/BILLS-116s2903is.xml 2019-11-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.