; (II) the term capital policy has the meaning given the term in section 225.8(d)(8) of title 12, Code of Federal Regulations, as in effect on the date of enactment of this subparagraph; and (III) the terms climate science leads and covered entity have the meanings given those terms in section 3 of the Climate Change Financial Risk Act of 2019. (ii) Tests (I) In general Subject to the other requirements of this clause, the Board of Governors, in coordination with the appropriate primary financial regulatory agencies and the climate science leads, shall conduct biennial analyses in which each covered entity is subject to evaluation, under an adverse set of conditions, of whether that covered entity has the capital, on a total consolidated basis, necessary to absorb financial losses that would arise under each climate change risk scenario developed under section 5 of the Climate Change Financial Risk Act of 2019. (II) Initial tests With respect to each of the first 3 analyses conducted under subclause (I)— (aa) the covered entity to which such an analysis applies shall not be subject to any adverse consequences as a result of the analysis; and (bb) the Board of Governors shall— (AA) not later than 60 days after the date on which the Board of Governors completes each such analysis, make a summary of the analysis publicly available