I 
114TH CONGRESS 
1ST SESSION H. R. 2600 
To address the concept of ‘‘Too Big To Fail’’ with respect to certain financial 
entities. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 1, 2015 
Mr. SHERMAN (for himself and Mr. GRAYSON) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To address the concept of ‘‘Too Big To Fail’’ with respect 
to certain financial entities. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Too Big To Fail, Too 
Big To Exist Act’’. 
SEC. 2. COMPILATION AND REPORT ON INSTITUTIONS 
THAT ARE TOO BIG TO FAIL. 
(a) COMPILATION.—Notwithstanding any other pro-
vision of law, not later than 90 days after the date of en-
actment of this Act, the Financial Stability Oversight 
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Council shall compile and submit to the Secretary of the 
Treasury a list of entities that it deems Too Big To Fail, 
which shall include, but is not limited to, any United 
States bank holding companies that have been identified 
as systemically important banks by the Financial Stability 
Board (in this Act referred to as the ‘‘Too Big To Fail 
List’’). 
(b) SUBMISSION
TO CONGRESS
AND
THE PRESI-
DENT.—Upon receipt of the Too Big To Fail List, the 
Secretary of the Treasury shall submit the List to Con-
gress and the President. 
SEC. 3. BREAKING UP TOO BIG TO FAIL INSTITUTIONS. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, but not later than 1 year after the date of 
enactment of this Act, the Secretary of the Treasury shall 
break up entities included on the Too Big To Fail List, 
so that their failure would no longer cause a catastrophic 
effect on the United States or global economy without a 
taxpayer bailout. 
(b) CONSULTATION WITH OTHER REGULATORS.—In 
carrying out the requirement of subsection (a), the Sec-
retary of the Treasury shall consult with the primary fi-
nancial regulatory agency of the entity to be broken up. 
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SEC. 4. PROHIBITION AGAINST USE OF FEDERAL RESERVE 
FINANCING. 
Notwithstanding any other provision of law (includ-
ing regulations), any entity included on the Too Big To 
Fail List may not use or otherwise have access to advances 
from any Federal Reserve credit facility, the Federal Re-
serve discount window, or any other program or facility 
made available under the Federal Reserve Act (12 U.S.C. 
221 et seq.), including any asset purchases, temporary or 
bridge loans, Government investments in debt or equity, 
or capital injections from any Federal institution. 
SEC. 5. PROHIBITION ON USE OF INSURED DEPOSITS. 
(a) IN GENERAL.—Any entity included on the Too 
Big To Fail List that is an insured depository institution, 
or owns such an institution, may not use any insured de-
posit amounts to fund— 
(1) any activity relating to hedging that is not 
directly related to commercial banking activity at the 
insured bank; 
(2) any use of derivatives for speculative pur-
poses; 
(3) any activity related to the dealing of deriva-
tives; or 
(4) any other form of speculative activity that 
regulators specify. 
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(b) RISK OF LOSS.—An entity included on the Too 
Big To Fail List may not conduct any activity listed in 
subsection (a) in such a manner that— 
(1) puts insured deposits at risk; or 
(2) creates a risk of loss to the Deposit Insur-
ance Fund. 
SEC. 6. DEFINITIONS. 
For purposes of this Act— 
(1) the term ‘‘primary financial regulatory 
agency’’ has the same meaning as in section 2(12) 
of the Dodd-Frank Wall Street Reform and Con-
sumer Protection Act (12 U.S.C. 5301(12)); and 
(2) the term ‘‘Too Big To Fail’’ means any en-
tity whose failure, due to its size, exposure to 
counterparties, liquidity position, interdependencies, 
role in critical markets, or other characteristics or 
factors, would have a catastrophic effect on the sta-
bility of either the financial system or the United 
States economy without substantial Government as-
sistance. 
Æ 
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