Bill > HR8287

This bill, the Stress Testing Accountability and Transparency Act, requires the Board of Governors of the Federal Reserve System (the Board) to issue a rule establishing the models, assumptions, formulas, and other methodologies used to determine the stress capital buffer requirement for bank holding companies. The bill also requires the Board to issue a rule establishing the scenarios used in stress tests conducted under the Financial Stability Act of 2010, and prohibits the Board from subjecting nonbank financial companies to climate-related stress tests using that authority. Additionally, the bill requires the Government Accountability Office (GAO) to conduct a study and report to Congress every three years on the stress tests conducted by the Board, evaluating their robustness, preparedness, and identification of risks to the safety and soundness of nonbank financial institutions and the stability of the U.S. financial system.