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(Sec. 1) This bill specifies that a federal banking agency may not establish an operational-risk capital requirement for banking organizations unless the requirement: (1) is based on, and is appropriately sensitive to, current risks; (2) is determined under a forward-looking assessment of potential losses; and (3) allows certain adjustments.
(Sec. 2) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking agency.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
(1) is based primarily on the risks posed by a banking organization’s current activities and businesses;
(2) is appropriately sensitive to the risks posed by such current activities and businesses;
(3) is determined under a forward-looking assessment of potential losses that may arise out of a banking organization’s current activities, businesses, and exposures, which is not solely based on a banking organization’s historical losses; and
(4) permits adjustments based on qualifying operational risk mitigants.
(A) has the meaning given such term under section 3 of the Federal Deposit Insurance Act; and
(B) means the National Credit Union Administration, in the case of an insured credit union.
(A) an insured depository institution (as defined under section 3 of the Federal Deposit Insurance Act);
(B) an insured credit union (as defined under section 101 of the Federal Credit Union Act);
(C) a depository institution holding company (as defined under section 3 of the Federal Deposit Insurance Act);
(D) a company that is treated as a bank holding company for purposes of section 8 of the International Banking Act; and
(E) a U.S. intermediate holding company established by a foreign banking organization pursuant to section 252.153 of title 12, Code of Federal Regulations.
(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 “$7,468,571,428”.
(b) Effective date.—Subsection (a) shall take effect on May 1, 2018.
Passed the House of Representatives February 27, 2018.
|Attest:||karen l. haas,|