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[actionDate] => 2018-03-09
[displayText] => Reported by the Committee on Financial Services. H. Rept. 115-592.
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Passed House
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[actionDate] => 2018-04-11
[displayText] => Passed/agreed to in House: On passage Passed by the Yeas and Nays: 297 - 121 (Roll no. 135).(text: CR H3119-3121)
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Financial Stability Oversight Council Improvement Act of 2017
Short Titles as Reported to House
Financial Stability Oversight Council Improvement Act of 2017
Short Titles as Introduced
Financial Stability Oversight Council Improvement Act of 2017
Official Titles
Official Titles - House of Representatives
Official Title as Introduced
To amend the Financial Stability Act of 2010 to improve the transparency of the Financial Stability Oversight Council, to improve the SIFI designation process, and for other purposes.
Actions Overview (3)
Date
Actions Overview
04/11/2018
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 297 - 121 (Roll no. 135).(text: CR H3119-3121)
03/09/2018
Reported by the Committee on Financial Services. H. Rept. 115-592.
10/12/2017
Introduced in House
04/11/2018 Passed/agreed to in House: On passage Passed by the Yeas and Nays: 297 - 121 (Roll no. 135).(text: CR H3119-3121)
03/09/2018 Reported by the Committee on Financial Services. H. Rept. 115-592.
10/12/2017 Introduced in House
All Actions (15)
Date
Chamber
All Actions
04/12/2018
Senate
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
04/11/2018-4:54pm
House
Motion to reconsider laid on the table Agreed to without objection.
Rules Committee Resolution H. Res. 780 Reported to House. The resolution provides for one hour of debate on each measure. The rule provides for H.R. 4061 and H.R. 4293 to be considered under closed rules.
03/09/2018
House
Placed on the Union Calendar, Calendar No. 450.
03/09/2018
House
Reported by the Committee on Financial Services. H. Rept. 115-592.
01/18/2018
House
Ordered to be Reported by the Yeas and Nays: 45 - 10. Action By: Committee on Financial Services
01/18/2018
House
Committee Consideration and Mark-up Session Held. Action By: Committee on Financial Services
01/17/2018
House
Committee Consideration and Mark-up Session Held. Action By: Committee on Financial Services
10/12/2017
House
Referred to the House Committee on Financial Services.
10/12/2017
House
Introduced in House
04/12/2018 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
04/11/2018 Motion to reconsider laid on the table Agreed to without objection.
04/11/2018 On passage Passed by the Yeas and Nays: 297 - 121 (Roll no. 135). (text: CR H3119-3121)
04/11/2018 The previous question was ordered pursuant to the rule.
04/11/2018 DEBATE - The House proceeded with one hour of debate on H.R. 4061.
04/11/2018 The resolution provides for one hour of debate on each measure. The rule provides for H.R. 4061 and H.R. 4293 to be considered under closed rules.
04/11/2018 Considered under the provisions of rule H. Res. 780. (consideration: CR H3119-3128)
03/14/2018 Rules Committee Resolution H. Res. 780 Reported to House. The resolution provides for one hour of debate on each measure. The rule provides for H.R. 4061 and H.R. 4293 to be considered under closed rules.
03/09/2018 Placed on the Union Calendar, Calendar No. 450.
03/09/2018 Reported by the Committee on Financial Services. H. Rept. 115-592.
01/18/2018 Ordered to be Reported by the Yeas and Nays: 45 - 10.
01/18/2018 Committee Consideration and Mark-up Session Held.
01/17/2018 Committee Consideration and Mark-up Session Held.
10/12/2017 Referred to the House Committee on Financial Services.
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.
Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019
Related bill
CRS
09/07/2018 Message on Senate action sent to the House.
Providing for consideration of the bill (H.R. 4061) to amend the Financial Stability Act of 2010 to improve the transparency of the Financial Stability Oversight Council, to improve the SIFI designation process, and for other purposes, and providing for consideration of the bill (H.R. 4293) to reform the Comprehensive Capital Analysis and Review process, the Dodd-Frank Act Stress Test process, and for other purposes.
Related bill
House
03/15/2018 Motion to reconsider laid on the table Agreed to without objection.
Procedurally-related: H.Res.780 is a House rule related to H.R.4061
Financial Stability Oversight Council Improvement Act of 2017
(Sec. 2) This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systemically important and consequently be supervised by the Federal Reserve Board and subject to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.
The bill revises procedural requirements related to council determinations of systemic importance. Specifically, the council must: (1) provide an opportunity, during an annual reevaluation of such a determination for a nonbank financial company, for the company to submit written materials to, and meet with, the council in order to contest the determination; (2) every five years, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it; and (3) undertake certain procedures for initial evaluations.
(Sec. 4) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.
Financial Stability Oversight Council Improvement Act of 2017
(Sec. 2) This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systemically important and consequently be supervised by the Federal Reserve Board and subject to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.
The bill revises procedural requirements related to council determinations of systemic importance. Specifically, the council must: (1) provide an opportunity, during an annual reevaluation of such a determination for a nonbank financial company, for the company to submit written materials to, and meet with, the council in order to contest the determination; (2) every five years, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it; and (3) undertake certain procedures for initial evaluations.
(Sec. 4) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.
Shown Here: Reported to House without amendment (03/09/2018)
Financial Stability Oversight Council Improvement Act of 2017
This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systemically important and consequently be supervised by the Federal Reserve Board and subject to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.
Every five years, the council must, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it.
The bill revises procedural requirements related to council determinations.
Shown Here: Introduced in House (10/12/2017)
Financial Stability Oversight Council Improvement Act of 2017
This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systemically important and consequently be supervised by the Federal Reserve Board and subject to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.
Every five years, the council must, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it.
The bill revises procedural requirements related to council determinations.