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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Federal Reserve Act to adjust the circumstances under which Federal reserve bank stock is callable, and for other purposes.

Actions Overview (1)

Date Actions Overview
04/21/2016Introduced in House

All Actions (2)

Date All Actions
04/21/2016Referred to the House Committee on Financial Services.
Action By: House of Representatives
04/21/2016Introduced in House
Action By: House of Representatives

Cosponsors (2)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Sessions, Pete [R-TX-32]* 04/21/2016
Rep. Smith, Lamar [R-TX-21] 05/26/2016

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services04/21/2016 Referred to

No related bill information was received for H.R.5027.

Subjects (6)

Latest Summary (1)

There is one summary for H.R.5027. View summaries

Shown Here:
Introduced in House (04/21/2016)

This bill amends the Federal Reserve Act to revise the formula for subscription of national banking associations to the stock of their regional Federal Reserve Bank.

Instead of one-sixth of an association's subscription to be payable on call by the Board of Governors of the Federal Reserve System, a member bank shall pay one-twelfth of its subscription when the Federal Reserve Board directs, and the remainder subject to the call of the Board.

If a member bank has total consolidated assets of $10 billion or less, however, it may elect to pay one-half of its subscription instead of one-twelfth, but only once, and only within the first year after it becomes a member bank.

The bill makes similar revisions to the formula for an increase in a member bank's capital stock or surplus.

The Board may only call the subscription of a member bank if the aggregate amount of surplus funds of the Federal Reserve Banks is exhausted.

A member bank may elect to have called amounts returned to it if the aggregate amount of surplus funds of the Federal Reserve Banks is $1 billion or more.

The Board shall make annually inflation adjustments to the dollar amounts of total consolidated assets specified in the Act and in this bill to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis of the Department of Commerce.