[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3446 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  1st Session
                                S. 3446

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            December 7, 2023

 Mr. Braun (for himself, Mr. Hagerty, and Mr. Marshall) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To require Federal banking agencies to report on interactions with 
  nongovernmental 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 NONGOVERNMENTAL 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 the tenth undesignated paragraph the following:
            ``(11) Reporting on interactions with nongovernmental 
        international organizations.--With respect to interactions 
        between the Board of Governors of the Federal Reserve System 
        and a nongovernmental 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) submit to the Committee on Banking, Housing, 
                and Urban Affairs of the Senate and the Committee on 
                Financial Services of the House of Representatives an 
                annual report containing--
                            ``(i) all of the information recorded 
                        pursuant to subparagraph (A) with respect to 
                        the previous year; and
                            ``(ii) with respect to each nongovernmental 
                        international organization with which the Board 
                        of Governors had an interaction in the previous 
                        year, a description of the funding sources of 
                        the nongovernmental international 
                        organization.''.
    (b) Office of the Comptroller of the Currency.--Section 324 of the 
Revised Statutes (12 U.S.C. 1) is amended by adding at the end the 
following:
    ``(c) Reporting on Interactions With Nongovernmental International 
Organizations.--With respect to interactions between the Office of the 
Comptroller of the Currency and a nongovernmental 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) submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives an annual report 
        containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each nongovernmental 
                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 nongovernmental 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 Nongovernmental International 
Organizations.--With respect to interactions between the Corporation 
and a nongovernmental 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 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) submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives an annual report 
        containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each nongovernmental 
                international organization with which the Corporation 
                had an interaction in the previous year, a description 
                of the funding sources of the nongovernmental 
                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 Nongovernmental International 
Organizations.--With respect to interactions between the Administration 
and a nongovernmental 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) submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives an annual report 
        containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each nongovernmental 
                international organization with which the 
                Administration had an interaction in the previous year, 
                a description of the funding sources of the 
                nongovernmental international organization.''.
    (e) Federal Housing Finance Administration.--Section 1311 of the 
Federal Housing Enterprises Financial Safety and Soundness Act of 1992 
(12 U.S.C. 4511) is amended by adding at the end the following:
    ``(d) Reporting on Interactions With Nongovernmental International 
Organizations.--With respect to interactions between the Agency and a 
nongovernmental 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) submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives an annual report 
        containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each nongovernmental 
                international organization with which the Federal 
                Housing Finance Agency had an interaction in the 
                previous year, a description of the funding sources of 
                the nongovernmental international organization.''.
    (f) Securities and Exchange Commission.--Section 23 of the 
Securities Exchange Act of 1934 (15 U.S.C. 78w) is amended by adding at 
the end the following:
    ``(e) Reporting on Interactions With Nongovernmental International 
Organizations.--With respect to interactions between the Commission and 
a nongovernmental 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 Commission 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) submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives an annual report 
        containing--
                    ``(A) all of the information recorded pursuant to 
                paragraph (1) with respect to the previous year; and
                    ``(B) with respect to each nongovernmental 
                international organization with which the Commission 
                had an interaction in the previous year, a description 
                of the funding sources of the nongovernmental 
                international organization.''.
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