Republic of Somaliland Independence Act

House Bill

H.R. 3992

119th Congress

Republic of Somaliland Independence Act

In Committee

Introduced:Jul 21, 2025

Primary Sponsor

Josh Harder

Representative

Democratic

CA-9

Cosponsors

0

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would require the Federal Reserve to test banks and other large financial companies against additional economic scenarios, including changes in interest rates, to ensure they have enough capital to withstand tough economic conditions.

Latest Action

Referred to the House Committee on Financial Services.

SponsorJosh Harder (D-CA)

Introduced7/21/2025

StatusReferred to the House Committee on Foreign Affairs.

ChamberHouse

Data from Congress.gov

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Vote Prediction

Republic of Somaliland Independence Act

This bill would require the Federal Reserve to test banks and other large financial companies against additional economic scenarios, including changes in interest rates, to ensure they have enough capital to withstand tough economic conditions.

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would require the Federal Reserve to test banks and other large financial companies against additional economic scenarios, including changes in interest rates, to ensure they have enough capital to withstand tough economic conditions.

Bill Number: 3992
Sponsor: Josh Harder (D-CA)
Introduced: 7/21/2025
Status: Referred to the House Committee on Foreign Affairs.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Republic of Somaliland Independence Act
Bill Number: 3992
Sponsor: Josh Harder (D-CA)
Status: Referred to the House Committee on Foreign Affairs.
Introduced: 7/21/2025
Summary: This bill would require the Federal Reserve to test banks and other large financial companies against additional economic scenarios, including changes in interest rates, to ensure they have enough capital to withstand tough economic conditions.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would require the Federal Reserve to test banks and other large financial companies against additional economic scenarios, including changes in interest rates, to ensure they have enough capital to withstand tough economic conditions.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Effective Bank Regulation Act This bill requires the Board of Governors of the Federal Reserve System to test additional scenarios during annual stress tests. Specifically, when evaluating whether a nonbank financial company or bank holding company has the capital to absorb losses due to adverse economic conditions, the board must test for three additional scenarios, including scenarios that incorporate interest rate changes.

Key Points

Main provisions of the bill

Requires the Federal Reserve to test banks and other major financial firms against three additional economic scenarios when conducting annual stress tests.
The new scenarios must include changes in interest rates as one of the factors.
The goal is to ensure these companies have enough financial reserves to absorb losses during economic downturns or crises.
This could lead to financial firms having to hold more capital as a safety buffer.

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would impact the largest banks, investment firms, and other systemically important financial companies in the United States. It could force them to hold more cash and liquid assets as a precaution, which could limit their ability to lend and invest. Consumers may see reduced access to credit and higher borrowing costs as a result.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3992, 119th Congress (2025). "Republic of Somaliland Independence Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-3992

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