S. 1893 · 115th Congress
Systemic Risk Designation Improvement 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
McCaskillSponsor7 cosponsors · 1 D, 6 R
1 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 allow the Federal Reserve Board (FRB) to subject a bank holding company to enhanced supervision if: (1) the company has been identified as a global systemically important company; or (2) the risk of the company's financial distress, or the nature of the company's activities,…
What it does: CRS summary · Introduced in Senate · Sep 28, 2017
Systemic Risk Designation Improvement Act of 2017
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to allow the Federal Reserve Board (FRB) to subject a bank holding company to enhanced supervision if: (1) the company has been identified as a global systemically important company; or (2) the risk of the company's financial distress, or the nature of the company's activities, could pose a threat to the financial stability of the United States. Currently, companies are subject to this type of oversight if they possess at least $50 billion in assets or are a nonbank financial company under the FRB's supervision.
The Financial Stability Oversight Council must approve of any metrics used by the FRB in determining by regulation that a category of bank holding companies is subject to enhanced supervision.
Under this bill, companies subject to enhanced supervision may be required to limit mergers and acquisitions, restrict products offered, or maintain a certain debt ratio.
The FRB must publish the list of companies that have been identified as requiring enhanced supervision.
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 2017
Latest action (Sep 28, 2017): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Sep 28, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.