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H. Rept. 119-324 1 (2025-10-03)

handle is hein.congrecreports/crptxahsj0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 119TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 119-324 PREVENTING THE ESCALATION OF ARMED CONFLICT IN EUROPE ACT OF 2025 OCTOBER 3, 2025.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HILL of Arkansas, from the Committee on Financial Services, submitted the following REPORT [To accompany H.R. 4346] The Committee on Financial Services, to whom was referred the bill (H.R. 4346) to secure a peaceful resolution to the Russia- Ukraine conflict by requiring the Secretary of the Treasury to pro- hibit, or impose strict conditions on, the opening or maintaining in the United States of a correspondent account or a payable-through account by certain foreign financial institutions, and for other pur- poses, having considered the same, reports favorably thereon with an amendment and recommends that the bill as amended do pass. CONTENTS Page Purpose and Sum m ary ............................................................................................ 4 Background and Need for Legislation .................................................................... 4 Com m ittee Consideration ........................................................................................ 4 R elated H earings ..................................................................................................... 5 C om m ittee V otes ..................................................................................................... 5 Com m ittee Oversight Findings ............................................................................... 13 Perform ance Goals and Objectives ........................................................................ 13 Com m ittee Cost Estim ate ....................................................................................... 13 New Budget Authority and CBO Cost Estimate .................................................. 13 Unfunded M andates Statem ent .............................................................................. 13 Earm ark Statem ent ................................................................................................ 13 Federal Advisory Committee Act Statement ......................................................... 14 Applicability to the Legislative Branch ................................................................. 14 Duplication of Federal Program s ........................................................................... 14 Section-by-Section Analysis of the Legislation ..................................................... 14 Changes in Existing Law Made by the Bill, as Reported ................. 15 Documents included by Unanimous Consent ........................................................ 16 The amendment is as follows: Strike all after the enacting clause and insert the following: 69-006