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![handle is hein.congrecreports/crptxafuk0001 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION
GP
118TH CONGRESS J REPT. 118-286
1st Session HOUSE OF REPRESENTATIVES Part 1
PRESSURE REGULATORY ORGANIZATIONS TO END
CHINESE THREATS TO TAIWAN ACT
DECEMBER 1, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 803]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 803) to direct certain financial regulators to exclude rep-
resentatives of the People's Republic of China from certain banking
organizations upon notice of certain threats or danger, and for
other purposes, having considered the same, reports favorably
thereon with an amendment and recommends that the bill as
amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Pressure Regulatory Organizations To End Chinese
Threats to Taiwan Act or the PROTECT Taiwan Act.
SEC. 2. STATEMENT OF POLICY REGARDING THE EXCLUSION OF REPRESENTATIVES OF THE
PEOPLE'S REPUBLIC OF CHINA FROM CERTAIN BANKING ORGANIZATIONS UPON
NOTICE OF CERTAIN THREATS OR DANGER.
(a) IN GENERAL.-If the President, pursuant to section 3(c) of the Taiwan Rela-
tions Act (22 U.S.C. 3302(c)), informs the Congress of any threat to the security or
the social or economic system of the people on Taiwan and any danger to the inter-
ests of the United States arising therefrom resulting from actions of the People's Re-
public of China, it is the policy of the United States to seek to exclude representa-
tives of the People's Republic of China, to the maximum extent practicable, from
participation in meetings, proceedings, and other activities of the following organiza-
tions-
(1) the Group of Twenty;
(2) the Bank for International Settlements;
(3) the Financial Stability Board;
(4) the Basel Committee on Banking Supervision;
(5) the International Association of Insurance Supervisors; and
(6) the International Organization of Securities Commissions.
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