Capital Markets Impact of Federal Reserve Study Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8802 Introduced in House (IH)]

<DOC>






118th CONGRESS
  2d Session
                                H. R. 8802

  To require the Securities and Exchange Commission and the Commodity 
Futures Trading Commission to carry out a joint study of the impact of 
 certain proposed rules on trading and capital markets activities, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 21, 2024

 Mr. Lucas (for himself and Mr. David Scott of Georgia) introduced the 
   following bill; which was referred to the Committee on Financial 
Services, and in addition to the Committee on Agriculture, for a period 
    to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                                 A BILL


 
  To require the Securities and Exchange Commission and the Commodity 
Futures Trading Commission to carry out a joint study of the impact of 
 certain proposed rules on trading and capital markets activities, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Capital Markets Impact of Federal 
Reserve Study Act''.

SEC. 2. SEC AND CFTC JOINT STUDY.

    (a) Joint Study.--The Securities and Exchange Commission (``SEC'' ) 
and the Commodity Futures Trading Commission (``CFTC'' ) shall jointly 
conduct a study on the cumulative impact on markets regulated by the 
SEC and CFTC that would be imposed by--
            (1) the proposed rule titled ``Regulatory Capital Rule: 
        Large Banking Organizations and Banking Organizations with 
        Significant Trading Activity'' (88 Fed. Reg. 64028; published 
        September 18, 2023); and
            (2) the proposed rule titled ``Regulatory Capital Rule: 
        Risk-Based Capital Surcharges for Global Systemically Important 
        Bank Holding Companies; Systemic Risk Report (FR Y-15)'' (88 
        Fed. Reg. 60385; published September 1, 2023).
    (b) Consultation.--In carrying out the study required under 
subsection (a), the SEC and the CFTC shall consult with CFTC advisory 
committees on the impact the proposed rules described under subsection 
(a) would have on United States derivatives markets, including--
            (1) the CFTC Agricultural Advisory Committee;
            (2) the CFTC Energy and Environmental Markets Advisory 
        Committee;
            (3) the CFTC Global Markets Advisory Committee; and
            (4) the CFTC Market Risk Advisory Committee.
    (c) Report.--Not later than 90 days after the date of enactment of 
this Act, the SEC and CFTC shall jointly issue a report to the 
Congress, and make sure report available to the public, containing--
            (1) all findings and determinations made in carrying out 
        the study required under subsection (a); and
            (2) a description of the specific impacts the proposed 
        rules described under subsection (a) would have on the trading 
        and capital markets activities of United States depository 
        institutions, bank holding companies, futures commission 
        merchants, retail foreign exchange dealers, and derivative end-
        users.
                                 <all>