S.1912 - A bill to clarify that certain banking entities are not required to divest from collateralized debt obligations backed by trust preferred securities under the Volcker Rule.113th Congress (2013-2014)
|Sponsor:||Sen. Manchin, Joe, III [D-WV] (Introduced 01/09/2014)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||01/09/2014 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|
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- Finance and Financial Sector
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Summary: S.1912 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in Senate (01/09/2014)
Amends the Bank Holding Company Act of 1956 regarding prohibitions on proprietary trading and certain relationships with hedge and private equity funds (Volcker Rule).
Prohibits the construction of these prohibitions to require either a banking entity with total consolidated assets of less than $50 billion or a mutual holding company to divest from a collateralized debt obligation issued before May 19, 2010, if: (1) the primary purpose for the obligation was as a vehicle for trust preferred securities, and (2) the investment in the obligation was made on or before December 10, 2013.