S. 1369 · 113th Congress
A bill to provide additional flexibility to the Board of Governors of the Federal Reserve System to establish…
Full title
A bill to provide additional flexibility to the Board of Governors of the Federal Reserve System to establish capital standards that are properly tailored to the unique characteristics of the business of insurance, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BrownSponsor24 cosponsors · 11 D, 13 R
R
Johanns
MK
R
Kirk
PT
R
Toomey
JT
D
Tester
TH
D
Harkin
KH
D
Hagan
MW
D
Warner
RB
R
Blunt
RP
R
Portman
AK
D
Klobuchar
DH
R
Heller
TC
R
Coburn
TC
D
Carper
CG
R
Grassley
JM
R
Moran
CM
D
Murphy
BM
D
Menendez
DV
R
Vitter
JI
R
Isakson
SC
R
Chambliss
MB
D
Begich
CM
D
McCaskill
TS
R
Scott
ML
D
Landrieu4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Dodd-Frank Wall Street Reform and Consumer Protection to exclude insurers from bank capital rules.
What it does: CRS summary · Introduced in Senate · Jul 25, 2013
Amends the Dodd-Frank Wall Street Reform and Consumer Protection to exclude insurers from bank capital rules.
Declares that a company is "primarily engaged in the business of insurance" if: (1) the annual gross revenues derived by it and all of its subsidiaries from the business of insurance represent at least 2/3 of its consolidated annual gross revenues, or (2) the consolidated assets of the company and its subsidiaries relating to the business of insurance represent at least 2/3 of its consolidated assets.
Exempts from minimum leverage capital requirements and minimum risk-based capital requirements any depository institution holding company that: (1) is primarily engaged in the business of insurance; (2) is an insurance underwriting company at the holding company level and was in existence on July 21, 2010; or (3) any nonbank financial company supervised by the Board of Governors of the Federal Reserve System that, together with its subsidiaries, is primarily engaged in the business of insurance.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to provide additional flexibility to the Board of Governors of the Federal Reserve System to establish capital standards that are properly tailored to the unique characteristics of the business of insurance, and for other purposes.
Latest action (Mar 11, 2014): Committee on Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection. Hearings held.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 25, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.