Sec. 3. Contribution to climate change included in FSOC designation
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Section 113 of the Financial Stability Act of 2010 ( 12 U.S.C. 5323 ) is amended— in subsection (a)(2)— in subparagraph (J), by striking and at the end; by redesignating subparagraph
(K)as subparagraph (L); and by inserting after subparagraph
(J)the following: the extent to which the company makes a nontrivial contribution to the financed emissions, as defined in section 15 of the Bank Holding Company Act of 1956, of the financial system of the United States; and ; and in subsection (b)(2)— in subparagraph (J), by striking and at the end; by redesignating subparagraph
(K)as subparagraph (L); and by inserting after subparagraph
(J)the following: the extent to which the company makes a nontrivial contribution to the financed emissions, as defined in section 15 of the Bank Holding Company Act of 1956, of the financial system of the United States; and . Section 115(b)(1) of the Financial Stability Act of 2010 ( 12 U.S.C. 5325(b)(1) ) is amended— in subparagraph (H), by striking and ; in subparagraph (I), by striking the period at the end and inserting ; and ; and by adding at the end the following: divestiture of financed emissions, as defined in section 15 of the Bank Holding Company Act of 1956. . Section 165(b)(1)(A) of the Financial Stability Act of 2010 ( 12 U.S.C. 5365(b)(1)(A) ) is amended— in clause (iv), by striking and at the end; in clause (v), by striking the period and inserting ; and ; and by adding at the end the following: emissions reduction plans in accordance with section 15 of the Bank Holding Company Act of 1956. .
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U.S. Code
- Authority to require supervision and regulation of certain nonbank financial companies§ 5323
- Enhanced supervision and prudential standards for nonbank financial companies supervised by the Board of Governors and certain bank holding companies§ 5325
- Enhanced supervision and prudential standards for nonbank financial companies supervised by the Board of Governors and certain bank holding companies§ 5365
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Sec. 3
Contribution to climate change included in FSOC designation
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