1. Short title This Act may be cited as the Ensuring U.S. Authority over U.S. Banking Regulations Act . 2. Requirements in connection with rulemakings implementing policies of non-governmental international organizations (a) Board of Governors of the Federal Reserve System Section 10 of the Federal Reserve Act ( 12 U.S.C. 247b ) is amended by inserting after paragraph (10) the following: (11) Requirements in connection with rulemakings implementing policies of non-governmental international organizations (A) In general The Board of Governors of the Federal Reserve System may not propose or finalize a major covered rule unless, not later than 120 days before issuing such a proposed or final rule, the Board of Governors provides the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate with notice, testimony, and a detailed economic analysis with respect to the proposed or final rule, including projections of economic costs, sectoral effects, and effects on the availability of credit, the gross domestic product, and employment. (B) Major covered rule defined In this paragraph, the term major covered rule means a rule— (i) that the Board of Governors determines would have an effect, in the aggregate, on the economy of the United States of $10,000,000,000 or more during the 10-year period beginning on the date the rule takes effect