[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1663 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 1663

   To require the Secretary of the Treasury to designate sectorially 
critical banking institutions, to require a higher level of regulatory 
       supervision of such institutions, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 17, 2023

    Mr. Torres of New York introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To require the Secretary of the Treasury to designate sectorially 
critical banking institutions, to require a higher level of regulatory 
       supervision of such institutions, 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 ``Critical Bank Review Act''.

SEC. 2. DESIGNATION OF SECTORIALLY CRITICAL BANKING INSTITUTIONS.

    (a) Designation.--The Secretary of the Treasury, in consultation 
with the banking regulators, shall designate a banking institution as 
``sectorially critical'' if the banking institution is systemically 
important to a critical sector of the economy of the United States.
    (b) Supervision of Sectorially Critical Banking Institutions.--The 
appropriate Federal banking agency shall apply a higher level of 
regulatory supervision with respect to a sectorially critical banking 
institution, as determined appropriate by the appropriate Federal 
banking agency.
    (c) Definitions.--In this section:
            (1) Appropriate federal banking agency.--The term 
        ``appropriate Federal banking agency''--
                    (A) has the meaning given that term under section 3 
                of the Federal Deposit Insurance Act; and
                    (B) means the National Credit Union Administration, 
                in the case of a credit union.
            (2) Banking institution.--The term ``banking institution'' 
        means--
                    (A) a depository institution (as defined under 
                section 3 of the Federal Deposit Insurance Act); and
                    (B) a credit union.
            (3) Credit union.--The term ``credit union'' means a 
        Federal credit union or a State credit union, as such terms are 
        defined, respectively, under section 101 of the Federal Credit 
        Union Act.
            (4) Federal banking agencies.--The term ``Federal banking 
        agencies'' means the Board of Governors of the Federal Reserve 
        System, the Comptroller of the Currency, the Federal Deposit 
        Insurance Corporation, and the National Credit Union 
        Administration.
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