H.R. 888 · 114th Congress
Subsidy Reserve Act of 2015
Key: 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.
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.
D
CapuanoSponsor2 cosponsors · 2 D
0 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 Act to require a nonbank financial company supervised by the Board of Governors of the Federal Reserve and each bank holding company with total consolidated assets of $500 billion or more to establish and maintain a Subsidy Reserve.
What it does: CRS summary · Introduced in House · Feb 11, 2015
Subsidy Reserve Act of 2015
Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to require a nonbank financial company supervised by the Board of Governors of the Federal Reserve and each bank holding company with total consolidated assets of $500 billion or more to establish and maintain a Subsidy Reserve.
Instructs the Board to:
- establish a formula for determining the financial benefit received by such companies as a result of the expectations on the part of their shareholders, creditors, and counterparties that the government will shield them from losses in the event of their failure;
- require them to apply the formula annually to their annual financial statement; and
- maintain the resulting amount in their Subsidy Reserve, in addition to any such previous amounts.
Prohibits a decrease in the amount of funds in the Subsidy Reserve unless a company makes a sale of assets, spins off a subsidiary, or makes a similar divestiture. Permits the decrease only in an amount that reflects the amount of such sale, spin off, or similar divestiture, either on a pro-rata basis or according to the risk weighting of the property sold, spun off, or divested.
Permits amounts in the Subsidy Reserve to be taken into account when determining the companies' capital for purposes of meeting any regulatory capital requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Subsidy Reserve Act of 2015
Latest action (Feb 11, 2015): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 11, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.