[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4601 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4601

To require Federal banking agencies to report on interactions with non-
   governmental international organizations, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 13, 2023

   Mr. Barr introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To require Federal banking agencies to report on interactions with non-
   governmental 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 NON-GOVERNMENTAL 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 paragraph (10) the following:
            ``(11) Reporting on interactions with non-governmental 
        international organizations.--With respect to interactions 
        between the Board of Governors of the Federal Reserve System 
        and a non-governmental 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) issue an annual report to the Committee on 
                Financial Services of the House of Representatives and 
                the Committee on Banking, Housing, and Urban Affairs of 
                the Senate containing--
                            ``(i) all of the information recorded 
                        pursuant to subparagraph (A) with respect to 
                        the previous year; and
                            ``(ii) with respect to each non-
                        governmental international organization with 
                        which the Board of Governors had an interaction 
                        in the previous year, a description of the 
                        funding sources of the non-governmental 
                        international organization.''.
    (b) Office of the Comptroller of the Currency.--Section 324 of the 
Revised Statutes of the United States (12 U.S.C. 1) is amended by 
adding at the end the following:
    ``(c) Reporting on Interactions With Non-Governmental International 
Organizations.--With respect to interactions between the Office of the 
Comptroller of the Currency and a non-governmental 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) issue an annual report to the Committee on Financial 
        Services of the House of Representatives and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each non-governmental 
                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 non-governmental 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 Non-Governmental International 
Organizations.--With respect to interactions between the Federal 
Deposit Insurance Corporation and a non-governmental 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 of the Corporation 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) issue an annual report to the Committee on Financial 
        Services of the House of Representatives and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each non-governmental 
                international organization with which the Corporation 
                had an interaction in the previous year, a description 
                of the funding sources of the non-governmental 
                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 Non-Governmental International 
Organizations.--With respect to interactions between the Administration 
and a non-governmental 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) issue an annual report to the Committee on Financial 
        Services of the House of Representatives and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each non-governmental 
                international organization with which the 
                Administration had an interaction in the previous year, 
                a description of the funding sources of the non-
                governmental international organization.''.
    (e) Federal Housing Finance Administration.--Section 1311 of the 
Housing and Community Development Act of 1992 (12 U.S.C. 4511) is 
amended by adding at the end the following:
    ``(d) Reporting on Interactions With Non-Governmental International 
Organizations.--With respect to interactions between the Federal 
Housing Finance Agency and a non-governmental 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) issue an annual report to the Committee on Financial 
        Services of the House of Representatives and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each non-governmental 
                international organization with which the Federal 
                Housing Finance Agency had an interaction in the 
                previous year, a description of the funding sources of 
                the non-governmental international organization.''.
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