Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to "Principles for Climate-Related Financial Risk Management for Large Financial Institutions".

Bill 118 hjres 126, also known as the "Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to 'Principles for Climate-Related Financial Risk Management for Large Financial Institutions'", is a piece of legislation that aims to overturn a rule proposed by the Federal Deposit Insurance Corporation (FDIC) regarding the management of climate-related financial risks by large financial institutions.

The rule in question, titled "Principles for Climate-Related Financial Risk Management for Large Financial Institutions", was put forth by the FDIC to address the growing concern over the impact of climate change on the financial sector. The rule outlines guidelines and principles for large financial institutions to assess and manage the risks associated with climate change, such as extreme weather events, rising sea levels, and shifting market dynamics.

However, some members of Congress believe that the FDIC overstepped its authority in issuing this rule and that it could have negative implications for the financial industry. As a result, Bill 118 hjres 126 seeks to disapprove of the FDIC's rule under the Congressional Review Act, which allows Congress to overturn federal regulations within a certain timeframe. If passed, this bill would effectively nullify the FDIC's rule on climate-related financial risk management for large financial institutions, preventing its implementation and requiring the FDIC to go back to the drawing board. The debate surrounding this bill highlights the ongoing tension between addressing climate change and ensuring a stable financial system in the United States.