Why Should I Vote On BetterDistricts?

Polling is a powerful tool to help our elected officials determine how they should vote.

Standard polling methods don't give you the control that you deserve. With BetterDistricts you can show your representative exactly how strongly a bill is supported in your community.

Send a clear signal on how you want your government to work.

H.R. 4296 - To place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking agency.
Introduced: 2018-02-28
Bill Status: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
 

(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.

Full Text


115th CONGRESS
2d Session
H. R. 4296


IN THE SENATE OF THE UNITED STATES

February 28, 2018

    Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs


AN ACT

    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,

SECTION 1. Operational risk capital requirements for banking organizations.

(a) In general.—An appropriate Federal banking agency may not establish an operational risk capital requirement for banking organizations, unless such requirement—

(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.

(b) Definitions.—For purposes of this section:

(1) APPROPRIATE FEDERAL BANKING AGENCY.—The term “appropriate Federal banking agency”—

(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.

(2) BANKING ORGANIZATION.—The term “banking organization” means—

(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.

SEC. 2. Reduction of surplus funds of Federal reserve banks.

(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,   
    Clerk

Relevant News Stories And Blog Posts

Title Worth Reading

Vote on H.R. 4296

 

Activity in last 30 days