Bill > HR3355

This bill establishes new requirements for federal banking agencies when they create rules that are influenced by international organizations. Specifically, the bill mandates that for any "major covered rule" - defined as a regulation with an economic impact of $10 billion or more over 10 years that aligns with recommendations from international organizations like the Financial Stability Board or Basel Committee - federal banking regulators must provide detailed information to congressional committees 120 days before proposing or finalizing such a rule. This information must include a comprehensive economic analysis covering potential costs, sectoral effects, and impacts on credit availability, GDP, and employment. Additionally, the bill requires federal banking regulators to submit annual reports about their interactions with certain international organizations (specifically the Financial Stability Board, Network of Central Banks and Supervisors for Greening the Financial System, and Basel Committee on Banking Supervision), detailing the activities they participate in and providing a full accounting of the organizations' funding sources. The legislation applies to multiple federal banking agencies, including the Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, and Federal Housing Finance Agency, with the goal of increasing transparency and congressional oversight of international financial regulatory influences.

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https://www.congress.gov/bill/119th-congress/house-bill/3355/all-info