US HB6391 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on November 18 2016 - 25% progression, died in committee
Action: 2016-11-18 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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. A bank holding company with total consolidated assets of $50 billion or more on the date of the enactment of this bill may elect to be subject to enhanced supervision and prudential standards by notifying FSOC within one year after this bill's enactment.

Tracking Information

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Title

Systemic Risk Designation Improvement Act of 2016

Sponsors


History

DateChamberAction
2016-11-18HouseReferred to the House Committee on Financial Services.
2016-11-18HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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