H.R. 1661 · 114th Congress
Mutual Bank Capital Opportunity Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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RothfusSponsor9 cosponsors · 1 D, 8 R
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Barr
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Stivers
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Sires
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Luetkemeyer
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Tipton
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Ribble
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Jenkins
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Young
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Rigell2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue mutual capital certificates that qualify as common equity Tier 1 capital for purposes of capital requirements mandated by federal law or regulation.
What it does: CRS summary · Introduced in House · Mar 26, 2015
Mutual Bank Capital Opportunity Act of 2015
Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue mutual capital certificates that qualify as common equity Tier 1 capital for purposes of capital requirements mandated by federal law or regulation.
Defines "mutual capital certificate" as a financial instrument issued by a mutual depository that entitles the holder to a payment of fixed, variable, or participating dividends (if its board of directors so declares) but no voting or member rights, nor is it redeemable until five years after issuance.
Defines "mutual depository" as an insured depository institution operating in a non-stock form, including a federal non-stock depository and any form of non-stock depository provided for under state law, whose deposits are insured by an instrumentality of the federal government.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mutual Bank Capital Opportunity Act of 2015
Latest action (Mar 26, 2015): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 26, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.