H.R.4293 - Stress Test Improvement Act of 2017115th Congress (2017-2018)
|Sponsor:||Rep. Zeldin, Lee M. [R-NY-1] (Introduced 11/07/2017)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 115-593|
|Latest Action:||Senate - 04/12/2018 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There have been 2 roll call votes|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Text: H.R.4293 — 115th Congress (2017-2018)All Information (Except Text)
Text available as:
Referred in Senate (04/12/2018)
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To reform the Comprehensive Capital Analysis and Review process, the Dodd-Frank Act Stress Test process, and for other purposes.
This Act may be cited as the “Stress Test Improvement Act of 2017”.
Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5365(i)) is amended—
(i) by striking “3 different” and inserting “2 different”; and
(ii) by striking “, adverse,”; and
(B) by adding at the end the following:
“(i) LIMITATION ON QUALITATIVE CAPITAL PLANNING OBJECTIONS.—In carrying out CCAR, the Board of Governors may not object to a company’s capital plan on the basis of qualitative deficiencies in the company’s capital planning process.
“(ii) CCAR DEFINED.—For purposes of this subparagraph and subparagraph (E), the term ‘CCAR’ means the Comprehensive Capital Analysis and Review established by the Board of Governors.”; and
(A) in subparagraph (A), by striking “semiannual” and inserting “annual”; and
(B) in subparagraph (C)(ii), by striking “3 different sets of conditions, including baseline, adverse,” and inserting “2 different sets of conditions, including baseline”.
The amendments made by this Act may not be construed to prohibit an appropriate Federal banking agency (as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) from—
(1) ensuring the safety and soundness of an entity regulated by such an appropriate Federal banking agency; and
(2) ensuring compliance with applicable laws, regulations, and supervisory policies, and the following of appropriate guidance, by an entity regulated by such an appropriate Federal banking agency.
(a) In general.—Section 7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 289(a)(3)(A)) is amended by striking “$7,500,000,000” and inserting “$7,480,000,000”.
(b) Effective date.—Subsection (a) shall take effect on June 1, 2018.
Passed the House of Representatives April 11, 2018.
|Attest:||karen l. haas,|