H.R. 2660 · 111th Congress
Regulatory Capital Enhancement Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
EllisonSponsorNo cosponsors.
Regulatory Capital Enhancement Act of 2009 - Amends the Federal Deposit Insurance Act to require each appropriate federal banking agency to prescribe capital standards, including a leverage limit and a risk-based capital requirement, for special purpose entities, or similar types of vehicles or entities, that are sponsored by insured depository institutions…
What it does: CRS summary · Introduced in House · Jun 2, 2009
Regulatory Capital Enhancement Act of 2009 - Amends the Federal Deposit Insurance Act to require each appropriate federal banking agency to prescribe capital standards, including a leverage limit and a risk-based capital requirement, for special purpose entities, or similar types of vehicles or entities, that are sponsored by insured depository institutions it regulates. Requires such capital standards to conform, to the extent practicable, with the capital standards prescribed under the Act.
Authorizes an appropriate federal banking agency, by regulation, to establish any additional relevant capital measures for such entities or vehicles necessary to guard against the risk that they become undercapitalized.
Requires the appropriate federal banking agencies to define jointly a "special purpose entity," with a focus on trusts and other legal entities established by or for an insured depository institution to fulfill narrow, specific, or temporary objectives, including: (1) the holding of financial assets transferred during a securitization process; (2) issuing applicable securities representing claims on such assets; (3) receiving and reinvesting cash flows from such assets; and (4) distributing proceeds to holders of the securities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Regulatory Capital Enhancement Act of 2009
Latest action (Jun 2, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 2, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.