# Plain Language Summary: Capital Markets Impact of Federal Reserve Study Act

This bill asks two government agencies—the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—to team up and study how two new banking rules would affect the financial markets. These two rules are about how much money big banks need to keep on hand as a safety cushion. The first rule focuses on large banks and banks that do a lot of trading, while the second targets the biggest, most systemically important banks in the world. The bill wants to know what happens to trading and capital markets if these rules go into effect.

The study is meant to look at the big picture—not just how the rules affect banks themselves, but how they ripple through the entire financial system. The agencies need to talk to advisory committees that represent different parts of the market, including agriculture, energy, global markets, and market risk experts. These committees represent the people who actually use these markets, like farmers hedging crop prices or energy companies managing risk. The goal is to get input from people on the ground about whether these banking rules might make it harder or more expensive for regular businesses to do their hedging and trading.

Within 90 days of the bill passing, the SEC and CFTC have to write a report to Congress and release it publicly explaining what they found. The report needs to spell out exactly how these proposed rules would affect banks, investment firms, futures traders, and companies that use derivatives to manage their business risks. Essentially, this bill is a fact-finding mission to make sure Congress understands the full consequences of these banking regulations before they become final rules.