S. 2270 · 113th Congress
Insurance Capital Standards Clarification Act of 2014
Law · 113-279 · Dec 18, 2014Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Became law without a recorded vote. It passed by voice vote or unanimous consent, which don't record how each member voted.
R
CollinsSponsor33 cosponsors · 16 D, 16 R, 1 I
D
Brown
MJ
R
Johanns
MK
R
Kirk
JT
D
Tester
DH
R
Heller
CB
D
Booker
RP
R
Portman
KH
D
Hagan
MW
D
Warner
PT
R
Toomey
CG
R
Grassley
JI
R
Isakson
DV
R
Vitter
RB
R
Blunt
RB
R
Burr
ME
R
Enzi
RB
D
Blumenthal
DF
R
Fischer
TH
D
Harkin
CM
D
McCaskill
KA
R
Ayotte
TB
D
Baldwin
RD
D
Durbin
AK
D
Klobuchar
AK
I
King
BM
D
Menendez
JM
R
Moran
TC
D
Carper
SC
R
Chambliss
HH
D
Heitkamp
CS
D
Schumer
JS
D
Shaheen
TS
R
Scott4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- Senate Introduced Apr 29, 2014
- Senate Passed Jun 3, 2014
- House Passed Dec 10, 2014
- President To the President Dec 12, 2014
- President Signed Dec 18, 2014
- Law Dec 18, 2014
Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of…
What it does: CRS summary · Public Law · Dec 18, 2014
(This measure has not been amended since it was passed by the Senate on June 3, 2014. The summary of that version is repeated here.)
Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System.
States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary).
States that a Board-supervised depository institution holding company or nonbank financial company engaged in the insurance business and regulated by either a state insurance regulator or the National Association of Insurance Commissioners, and which files its holding company financial statements using only Statutory Accounting Principles pursuant to state law, shall not be required by the Board, under this Act or the Home Owners' Loan Act (HOLA), to prepare such financial statements in accordance with Generally Accepted Accounting Principles.
Declares that nothing in this Act shall: (1) limit Board authority to conduct any regulatory or supervisory activity of either a depository institution holding company or a non-bank financial company under Board jurisdiction, including the collecting or reporting of any information on an entity or group-wide basis; or (2) excuse the Board from its obligations to comply with Dodd-Frank requirements regarding examination of nonbank financial companies and HOLA requirements regarding examination of savings and loan holding companies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Insurance Capital Standards Clarification Act of 2014
Latest action (Dec 18, 2014): Became Public Law No: 113-279.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Apr 29, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- Senate Introduced Apr 29, 2014
- Senate Passed Jun 3, 2014
- House Passed Dec 10, 2014
- President To the President Dec 12, 2014
- President Signed Dec 18, 2014
- Law Dec 18, 2014
No recorded floor vote found.