China Financial Threat Mitigation Act of 2021
- Last Action
- 5/7/2021
Actions
- 2021-05-07Referred to the House Committee on Financial Services.
- 2021-05-07Introduced in House
- 2021-05-07Introduced in House
CRS Summary
As of 2021-05-07 (00)
China Financial Threat Mitigation Act of 2021
This bill requires U.S. representatives to certain international bodies to advocate for increased international cooperation to mitigate threats caused by the governance, opacity, or instability of financial intermediation in China. (Generally, financial intermediaries provide services, such as accounting and underwriting services, that facilitate financial transactions.)
Specifically, this requirement applies to U.S. representatives to the International Monetary Fund, the Group of 20 (G20), and the Financial Stability Board (a technical body established by the G20 to coordinate the group's agenda).
The bill also requires the Financial Stability Oversight Council within the Department of the Treasury to report annually to Congress on such threats.
Cosponsors (15)
- Abigail Spanberger (D-VA)
- Stephanie Murphy (D-FL)
- Liz Cheney (R-WY)
- Ed Case (D-HI)
- TIM RYAN (D-OH)
- John Rutherford (R-FL)
- Elaine Luria (D-VA)
- Bill Johnson (R-OH)
- Susan Wild (D-PA)
- Mikie Sherrill (D-NJ)
- C. Franklin (R-FL)
- Cynthia Axne (D-IA)
- Jennifer Wexton (D-VA)
- Elissa Slotkin (D-MI)
- Jimmy Panetta (D-CA)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.