Twice a year, large financial intuitions prepare reports for federal financial regulators regarding their ability to withstand financial stress. Under H.R. 4293 those institutions would prepare annual reports instead. The bill also would prohibit the Federal Reserve from using its qualitative assessment of a financial institution’s ability to withstand financial stress as a basis for objecting to that institution’s plan to draw down capital.
CBO estimates that enacting H.R. 4293 would increase the deficit by $14 million over the 2018-2027 period. That figure includes an increase in direct spending of $16 million and an increase in revenues of $2 million. Because enacting the bill would affect direct spending and revenues, pay-as-you-go procedures apply.
CBO estimates that enacting H.R. 4293 would not increase net direct spending or on-budget deficits by more than $2.5 billion in one or more of the four consecutive 10-year periods beginning in 2028.
H.R. 4293 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.