H. Rept. 115-620 1 (2018-04-05)

handle is hein.congrecreports/crptxabdd0001 and id is 1 raw text is: AUTHENTICATEO

                   115TH CONGRESS                                     REPORT
                      2d Session    HOUSE OF REPRESENTATIVES          115-620

                                         STANDARDS ACT

                    APRIL 5, 2018.-Committed to the Committee of the Whole House on the State of
                                     the Union and ordered to be printed

                      Mr. HENSARLING, from the Committee on Financial Services,
                                       submitted the following


                                            together with

                                         MINORITY VIEWS

                                         [To accompany H.R. 3179]

                            [Including cost estimate of the Congressional Budget Office]
                     The Committee on Financial Services, to whom was referred the
                   bill (H.R. 3179) to require the appropriate Federal banking agen-
                   cies, when issuing certain prudential regulations that are sub-
                   stantively more stringent than a corresponding international pru-
                   dential standard to publish the rationale for doing so and a cost-
                   benefit analysis of the difference, and for other purposes, having
                   considered the same, report favorably thereon without amendment
                   and recommend that the bill do pass.
                                       PURPOSE AND SUMMARY
                     Introduced by Representative Trey Hollingsworth on July 11,
                   2017, H.R. 3179, the Transparency and Accountability for Busi-
                   ness Standards Act requires Federal banking agencies (the Office
                   of the Comptroller of the Currency (OCC), the Board of Governors
                   of the Federal Reserve System (Federal Reserve), and the Federal
                   Deposit Insurance  Corporation  (FDIC)) to publish-whenever
                   issuing certain prudential regulations which are substantively
                   more stringent than corresponding international standards-a ra-
                   tionale and comprehensive cost-benefit analysis of the differences
                   between the prudential regulation and the corresponding inter-
                   national prudential standard, for public notice and comment.

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