115 HR 4293 RH: Stress Test Improvement Act of 2017 U.S. House of Representatives 2017-11-07 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

IB Union Calendar No. 451 115th CONGRESS2d Session H. R. 4293 [Report No. 115–593] IN THE HOUSE OF REPRESENTATIVES November 7, 2017 Mr. Zeldin introduced the following bill; which was referred to the Committee on Financial Services March 13, 2018Additional sponsors: Mr. David Scott of Georgia and Mr. Gottheimer March 13, 2018 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on November 7, 2017 A BILL To reform the Comprehensive Capital Analysis and Review process, the Dodd-Frank Act Stress Test process, and for other purposes.

1.

Short title

This Act may be cited as the Stress Test Improvement Act of 2017.

2.

CCAR and DFAST reforms

Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5365(i)) is amended— (1)in paragraph (1)— (A)in subparagraph (B)(i)— (i)by striking 3 different and inserting 2 different; and (ii)by striking , adverse,; and (B)by adding at the end the following: (C)

CCAR requirements

(i)

Limitation on qualitative capital planning objections

In carrying out CCAR, the Board of Governors may not object to a company’s capital plan on the basis of qualitative deficiencies in the company’s capital planning process. (ii)

CCAR defined

For purposes of this subparagraph and subparagraph (E), the term CCAR means the Comprehensive Capital Analysis and Review established by the Board of Governors.; and (2)in paragraph (2)— (A)in subparagraph (A), by striking semiannual and inserting annual; and (B)in subparagraph (C)(ii), by striking 3 different sets of conditions, including baseline, adverse, and inserting 2 different sets of conditions, including baseline.

3.

Rule of construction

The amendments made by this Act may not be construed to prohibit an appropriate Federal banking agency (as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) from— (1)ensuring the safety and soundness of an entity regulated by such an appropriate Federal banking agency; and (2)ensuring compliance with applicable laws, regulations, and supervisory policies, and the following of appropriate guidance, by an entity regulated by such an appropriate Federal banking agency.

March 13, 2018Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed