Systemic Risk Authority Transparency Act

The Systemic Risk Authority Transparency Act (HR 4116) requires federal regulators to provide detailed public reports after a bank failure determination. It directly affects failing banks with federal insurance (like commercial banks) and their primary regulators (such as the Federal Reserve or FDIC). The bill mandates two key reports: first, the GAO must review and report on the failure's causes, management issues, regulatory gaps, and effects on incentives within 60 and 180 days; second, the primary regulator must submit a report disclosing confidential supervisory information, management failures, and recommendations for preventing future failures. These provisions aim to increase transparency around bank failures without changing existing regulatory authority.