H.R.6244 - To require the appropriate Federal banking agencies to treat certain non-significant investments in the capital of unconsolidated financial institutions as qualifying capital instruments, and for other purposes.114th Congress (2015-2016)
|Sponsor:||Rep. Duffy, Sean P. [R-WI-7] (Introduced 09/28/2016)|
|Committees:||House - Financial Services|
|Latest Action:||House - 09/28/2016 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6244 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (09/28/2016)
This bill amends the Federal Deposit Insurance Act to require the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board to treat non-significant investments in the capital of unconsolidated financial institutions as qualifying capital instruments, provided such instruments were held as investments prior to July 21, 2010, for purposes of the final rules entitled "Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule" (Basel III Capital Regulations), published on October 11, 2013.
The OCC, the FDIC, and the Federal Reserve Board must amend such Basel III Capital Regulations to implement this bill.