; and (2) in the fourth sentence— (A) by inserting after supervised by the Board the following: (with any such recommendations being provided to the Board with ample and sufficient time for review prior to the Vice Chairman making the recommendation public) ; and (B) by inserting after regulation of such firms the following: , subject to such oversight and control of the Board as the Board determines necessary and appropriate . (b) Rule of application The amendment made by subsection (a) shall apply to individuals who are designated by the President on or after the date of enactment of this Act to serve as the Vice Chairman for Supervision. V Banking Regulator Accountability 501. Reports and testimony to Congress on supervision (a) Testimony and reports to Congress on Federal Reserve System supervision Section 2B of the Federal Reserve Act ( 12 U.S.C. 225b ) is amended by adding at the end the following: (d) Semi-Annual testimony and report to Congress on supervision (1) In general The Vice Chairman for Supervision shall submit a semi-annual report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives regarding the efforts, activities, objectives, and plans of the Board with respect to the conduct of supervision and regulation of depository institution holding companies and other financial firms supervised by the Board. (2) Minimum contents At a minimum, each report under paragraph (1) shall include— (A) conditions of financial firms, including examination or inspection ratings, on an aggregate basis by firm asset size; (B) granular data on outstanding material supervisory determinations by type of determination, including the types of risks covered, on an aggregate basis by firm asset size; (C) changes in the number and types of outstanding material supervisory determinations over the previous 5 years; (D) aggregate data on the ratings of financial firms over the previous 3 years