H.R. 3197 establishes a new advisory committee within the Financial Stability Oversight Council to study potential economic and market risks from Chinese military aggression toward Taiwan. The committee will include representatives from financial regulators and ten members drawn from capital markets firms (such as market makers, asset managers, and institutional investors) and geopolitical experts on China. The committee must meet in person at least twice yearly and will conduct annual studies on market vulnerabilities, then present findings to the Council in public meetings (with national security-sensitive information discussed in closed sessions). The Financial Stability Oversight Council will subsequently issue annual public reports detailing risks to U.S. banking systems, potential economic costs, market disruption impacts, and recommendations for regulators to strengthen market resilience against shocks that could result from such aggression. The bill contains no specific budget allocation or sunset date, establishing the committee as a permanent body.
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