H.R.1341 - Financial Competitive Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Fincher, Stephen Lee [R-TN-8] (Introduced 03/21/2013)|
|Committees:||House - Agriculture; Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 113-134|
|Latest Action:||07/09/2013 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|
|Major Recorded Votes:||07/08/2013 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.1341 — 113th Congress (2013-2014)All Bill Information (Except Text)
Passed House amended (07/08/2013)
(This measure has not been amended since it was reported to the House on June 28, 2013. The summary of that version is repeated here.)
Financial Competitive Act of 2013 - Directs the Financial Stability Oversight Council (FSOC) to study and report to Congress on the likely effects that differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement would have upon: (1) U.S. financial institutions that conduct derivatives transactions and participate in derivatives markets, (2) end users of derivatives, and (3) international derivatives markets.
Requires the study to recommend steps Congress and the constituent agencies of the FSOC should take to: (1) minimize any expected negative effects on U.S. financial institutions, derivatives markets, and end users; (2) encourage greater international consistency in implementation of internationally agreed capital, liquidity, and other prudential standards; and (3) ensure that the FSOC fulfills its statutory mandate to identify risks and respond to emerging threats to financial stability.