H.R. 6390 · 114th Congress
Systemic Risk Designation Improvement Act of 2016
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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.
R
LuetkemeyerSponsorNo cosponsors.
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the…
What it does: CRS summary · Introduced in House · Nov 18, 2016
Systemic Risk Designation Improvement Act of 2016
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities, could threaten the financial stability of the United States. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards.
FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance.
A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Systemic Risk Designation Improvement Act of 2016
Latest action (Nov 18, 2016): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 18, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.