As ordered reported by the House Committee on Financial Services on April 17, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
*
*
*
Revenues
*
*
*
Increase or Decrease (-) in the Deficit
*
*
*
Spending Subject to Appropriation (Outlays)
*
*
*
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
*
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
*
Contains intergovernmental mandate?
No
Contains private-sector mandate?
Yes, Under Threshold
* = between -$500,000 and $500,000.
Summary
H.R. 4116 would require several federal agencies to report to the Congress if federal banking regulators invoke an emergency determination known as the systemic risk exception. Systemic risk is the possibility that the failure of a financial business, market, or product could trigger severe financial instability in the economy. The bill would require the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, the Government Accountability Office (GAO), and the Office of the Comptroller of the Currency (OCC) to submit information about bank supervision, regulation, management, and recommendations to improve the safety and soundness of the industry.
Enacting H.R. 4116 would increase administrative costs for those agencies to meet the additional reporting requirements. CBO estimates that the total cost across all four agencies would be less than $500,000 over the 2024-2034 period. The budgetary treatment for those four agencies is described below:
