S.940

Transparency in Banking Act requires certain entities to report to Congress on Basel Committee on Bank Supervision.

The Transparency in Banking Act mandates that the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, in consultation with the Secretary of the Treasury, submit an annual report to Congress by January 31. The report must detail the goals of the Basel Committee on Bank Supervision meetings, including who will attend, problems to be addressed, options to be considered, and standards under review.