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Code · BILL · 117th Congress · H.R. 7900 (Placed on Calendar Senate) — To authorize appropriations for fiscal year 2023 for military activities of the Department of Defense and for militar... · Sec. 5410

Sec. 5410. China financial threat mitigation

322 words·~1 min read·/bill/117/hr/7900/pcs/section-5410·

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Not later than one year after the date of the enactment of this Act, the Secretary of the Treasury, in consultation with the Chairman of the Board of Governors of the Federal Reserve System, the Chairman of the Securities and Exchange Commission, the Chairman of the Commodity Futures Trading Commission, and the Secretary of State, shall conduct a study and issue a report on the exposure of the United States to the financial sector of the People’s Republic of China that includes— an assessment of the effects of reforms to the financial sector of the People’s Republic of China on the United States and global financial systems; a description of the policies the United States Government is adopting to protect the interests of the United States while the financial sector of the People’s Republic of China undergoes such reforms; a description and analysis of any risks to the financial stability of the United States and the global economy emanating from the People’s Republic of China; and recommendations for additional actions the United States Government, including United States representatives at relevant international organizations, should take to strengthen international cooperation to monitor and mitigate such financial stability risks and protect United States interests.
The Secretary of the Treasury shall transmit the report required under subsection
(a)not later than one year after the date of enactment of this Act to the Committees on Financial Services and Foreign Affairs of the House of Representatives, the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate, and to the United States representatives at relevant international organizations, as appropriate. The report required under subsection
(a)shall be unclassified, but may contain a classified annex. The Secretary of the Treasury shall publish the report required under subsection
(a)(other than any classified annex) on the website of the Department of the Treasury not later than one year after the date of enactment of this Act.
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