Volcker Rule Regulatory Harmonization Act

Bill: 115-hr-4790
Sponsor: Rep. Hill, J. French [R-AR-2]
Introduced: 2018-01-12 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
Federal Reserve System
Financial services and investments
Securities

Summary:
action_date: 2018-01-12
text: 
This bill amends the Bank Holding Company Act of 1956 to exempt from the Volcker Rule banks with assets of $10 billion or less. (The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.) 
 
The bill also grants exclusive rulemaking authority under the Volcker Rule to the Federal Reserve Board. (Currently, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission also have regulatory authority under the Volcker Rule.) 

action_date: 2018-04-05
text: 

Volcker Rule Regulatory Harmonization Act

 
This bill amends the Bank Holding Company Act of 1956 to exempt from the Volcker Rule banks with total assets: (1) of $10 billion or less, and (2) comprised of 5% or less of trading assets and liabilities. (The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.) 
 
The bill also grants exclusive rulemaking authority under the Volcker Rule to the Federal Reserve Board. (Currently, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission also have regulatory authority under the Volcker Rule.) 

action_date: 2018-04-13
text: 

Volcker Rule Regulatory Harmonization Act

 
(Sec. 2) This bill amends the Bank Holding Company Act of 1956 to grant exclusive rulemaking authority under the Volcker Rule to the Federal Reserve Board. (Currently, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission also have regulatory authority under the Volcker Rule. The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.)
 
(Sec. 4) The bill exempts from the Volcker Rule banks with total assets: (1) of $10 billion or less, and (2) comprised of 5% or less of trading assets and liabilities. 


Legislative actions:
action_date: 2018-04-16
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2018-04-13
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2018-04-13
text: On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139). (text: CR H3214-3215)
action_date: 2018-04-13
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139).(text: CR H3214-3215)
action_date: 2018-04-13
text: The previous question was ordered pursuant to the rule.
action_date: 2018-04-13
text: DEBATE - The House proceeded with one hour of debate on H.R. 4790.
action_date: 2018-04-13
text: Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
action_date: 2018-04-13
text: Considered under the provisions of rule H. Res. 811. (consideration: CR H3214-3223)
action_date: 2018-04-11
text: Rule H. Res. 811 passed House.
action_date: 2018-04-10
text: Rules Committee Resolution H. Res. 811 Reported to House. Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
action_date: 2018-04-05
text: Placed on the Union Calendar, Calendar No. 474.
action_date: 2018-04-05
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
action_date: 2018-04-05
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
action_date: 2018-03-21
text: Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
action_date: 2018-03-21
text: Committee Consideration and Mark-up Session Held.
action_date: 2018-01-12
text: Referred to the House Committee on Financial Services.
action_date: 2018-01-12
text: Introduced in House
action_date: 2018-01-12
text: Introduced in House