To require the appropriate Federal banking agencies to treat certain municipal obligations as level 2A liquid assets, and for other purposes.

Bill: 114-hr-2209
Sponsor: Rep. Messer, Luke [R-IN-6]
Introduced: 2015-05-01 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Department of the Treasury
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System
Securities
State and local finance

Summary:
action_date: 2015-05-01
text: 
This bill amends the Federal Deposit Insurance Act with respect to the treatment of certain municipal obligations to direct the federal banking agencies to treat as a high-quality level 2A liquid asset any municipal obligation that is liquid, readily marketable, and investment grade as of the calculation date. 
 
The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Comptroller of the Currency are directed to amend the rule titled &quot;Liquidity Coverage Ratio: Liquidity Risk Measurement Standards; Final Rule&quot; to implement this Act. 

action_date: 2016-02-01
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 
(Sec. 1) This bill amends the Federal Deposit Insurance Act with respect to the treatment of certain municipal obligations to direct the federal banking agencies to treat as a high-quality level 2A liquid asset any municipal obligation that is liquid, readily marketable, and investment grade as of the calculation date. 
 
The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Comptroller of the Currency are directed to amend the rule titled &quot;Liquidity Coverage Ratio: Liquidity Risk Measurement Standards; Final Rule&quot; to implement this Act. 


Legislative actions:
action_date: 2016-02-11
text: Committee on Banking, Housing, and Urban Affairs. Hearings held.
action_date: 2016-02-02
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2016-02-01
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2016-02-01
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H384)
action_date: 2016-02-01
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H384)
action_date: 2016-02-01
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 2209.
action_date: 2016-02-01
text: Considered under suspension of the rules. (consideration: CR H384-387)
action_date: 2016-02-01
text: Mr. Garrett moved to suspend the rules and pass the bill.
action_date: 2016-02-01
text: Placed on the Union Calendar, Calendar No. 310.
action_date: 2016-02-01
text: Reported by the Committee on Financial Services. H. Rept. 114-407.
action_date: 2016-02-01
text: Reported by the Committee on Financial Services. H. Rept. 114-407.
action_date: 2015-11-04
text: Ordered to be Reported by the Yeas and Nays: 56 - 1.
action_date: 2015-11-04
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-11-03
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-10-21
text: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
action_date: 2015-05-01
text: Referred to the House Committee on Financial Services.
action_date: 2015-05-01
text: Introduced in House
action_date: 2015-05-01
text: Introduced in House