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H. Rept. 117-421 1 (2022-07-20)

handle is hein.congrecreports/crptxaeot0001 and id is 1 raw text is: AUTHENTICATED U.S. GOVERNMENT INFORMATION . 117TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 117-421 RISK-BASED CREDIT EXAMINATION ACT JULY 20, 2022.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Ms. WATERS, from the Committee on Financial Services, submitted the following R E P O R T [To accompany H.R. 4586] The Committee on Financial Services, to whom was referred the bill (H.R. 4586) to amend the Securities Exchange Act of 1934 with respect to risk-based examinations of Nationally Recognized Statis- tical Rating Organizations, having considered the same, reports fa- vorably thereon with an amendment and recommends that the bill as amended do pass. CONTENTS Page Purpose and Sum m ary ............................................................................................ 2 Background and Need for Legislation ................................................................... 2 Section-by-Section Analysis of the Legislation ..................................................... 2 H e a rin g s ................................................................................................................... 2 Com m ittee Consideration ........................................................................................ 2 C om m ittee V otes ...................................................................................................... 3 Com m ittee Oversight Findings .............................................................................. 3 Statement of Performnce Goals and Objectives .................................................... 3 New Budget Authority and CBO Coast Estimate ................................................. 3 Com m ittee Cost E stim ate ....................................................................................... 3 Federal M andates Statem ent ................................................................................. 3 A dvisory Com m ittee Statem ent ............................................................................. 3 Applicability to Legislative Branch ....................................................................... 3 Congessional Earmarks, Limited Tax Benefits, and Limited Tarriff Benefits ... 4 D uplicative Federal Program s ............................................................................... 4 Changes to E xisting L aw ....................................................................................... 4 The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Risk-Based Credit Examination Act. 29-006