To amend the CARES Act to require the uniform treatment of nationally recognized statistical rating organizations under certain programs carried out in response to the COVID-19 emergency, and for other purposes.
Uniform Treatment of NRSROs Act
This bill provides for the uniform treatment under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs of nationally recognized statistical rating organizations registered with the Securities and Exchange Commission. This allows entities, securities, and other instruments with a credit rating from such an organization to use the rating to qualify for these aid programs.
Furthermore, the Government Accountability Office must report on credit rating quality across organizations, their effect on access to capital markets, and the implementation of this bill.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Sherman moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H4602-4603)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6934.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4602)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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