To direct certain financial regulators to exclude representatives of the People’s Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes.
Sponsors
Legislative Progress
ReportedAdditional sponsor: Mr. Lawler
Reported from the Committee on Financial Services with an amendment
Committee on Foreign Affairs discharged; committed to the Committee of …
Mr. Lucas (for himself and Mr. Vicente Gonzalez of Texas) …
Summary
What This Bill Does:
This bill tells certain U.S. financial regulators to kick out representatives from China's banking system if they pose a threat to Taiwan or U.S. interests. It targets big international groups like the G20, Bank for International Settlements, and others.
Who Benefits and How:
- U.S. & Taiwan: This bill benefits their national security by potentially reducing risks posed by Chinese representatives in these financial organizations.
- Other Countries Involved: They might feel more comfortable with China having less influence in these groups.
Who Bears the Burden and How:
- China: If they pose a threat, their representatives could be excluded from these international banking groups.
- U.S. Taxpayers: There might be some extra costs for U.S. regulators to enforce this policy.
- International Organizations: They may face disruption in their operations due to the exclusion of Chinese representatives.
Key Provisions:
- The President must inform Congress about any threats from China to Taiwan or U.S. interests before excluding Chinese representatives.
- Exclusions apply to specific international banking groups like the G20, BIS, and others mentioned in the bill.
- The President can waive these exclusions if it's in the national interest of the U.S., but must report this to Congress.
- This policy will last for up to 5 years or until the President says it's no longer needed.
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
To direct certain financial regulators to exclude representatives of the People’s Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes.
Policy Domains
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_board"
- → Board of Governors of the Federal Reserve System
- "the_secretary"
- → Secretary of the Treasury
- "the_commission"
- → Securities and Exchange Commission
Key Definitions
Terms defined in this bill
It is the policy of the United States to seek to exclude representatives of the People’s Republic of China from participation in meetings, proceedings, and other activities of certain international financial organizations.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology