H.R. 493 · 115th Congress
Subsidy Reserve Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CapuanoSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to require each nonbank financial company supervised by the Federal Reserve Board (FRB) and each bank holding company with total consolidated assets of at least $500 billion to establish and maintain a capital account called a "subsidy reserve." The amount in a company's subsidy…
What it does: CRS summary · Introduced in House · Jan 12, 2017
Subsidy Reserve Act of 2017
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to require each nonbank financial company supervised by the Federal Reserve Board (FRB) and each bank holding company with total consolidated assets of at least $500 billion to establish and maintain a capital account called a "subsidy reserve." The amount in a company's subsidy reserve shall be based, according to a formula established by the FRB, on the financial benefit received by the company as a result of the expectation of shareholders, creditors, and counterparties that the federal government will shield them from losses in the event of the company's failure. The amount in a company's subsidy reserve may be taken into account for purposes of determining a company's compliance with 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 2017
Latest action (Jan 12, 2017): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 12, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.