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Wednesday April 11th

Apr 10, 2018
Legislative Digest

On Thursday, the House will meet at 10:00 a.m. for morning hour and 12:00 p.m. for legislative business.

2 Rule Bills 

1) H.R. 4293 - Stress Test Improvement Act of 2017, Rules Committee Print (PDF)

Sponsor: Rep. Lee Zeldin (R-NY) | Financial Services Committee

Topline Summary: This bill improves the stress testing process for bank holding companies. Specifically, the bill improves the process by: (1) requiring certain bank holding companies to conduct company-run stress tests once a year rather than semiannually; (2), reduces the number of supervisory scenarios from three to two—the baseline and severely adverse scenario; (3), does away with mid-year stress tests; and (4), prohibits the Federal Reserve from objecting to a bank holding company’s capital plan based on qualitative deficiencies.

2) H.R. 4061 - Financial Stability Oversight Council Improvement Act of 2017, Rules Committee Print (PDF)

Sponsor: Rep. Dennis Ross (R-FL) | Financial Services Committee

Topline Summary: This bill amends the Dodd-Frank Act to require the Financial Stability Oversight Council (FSOC), when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Federal Reserve, to consider the appropriateness of imposing heightened prudential standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.

115th Congress