To place a 6-month moratorium on the authority of the Financial Stability Oversight Council to make financial stability determinations.

Bill: 113-hr-4881
Sponsor: full_name: Rep. Neugebauer, Randy [R-TX-19]
Introduced: 2014-06-17
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Banking and financial institutions regulation

Federal Reserve System

Financial Stability Oversight Council

Financial services and investments
Latest action: action_date: 2014-06-20
text: Ordered to be Reported by the Yeas and Nays: 32 - 27.

Summaries:
action_date: 2014-06-17
action_desc: Introduced in House
text: <p>Establishes a six-month moratorium during which the Financial Stability Oversight Council is prohibited from making a determination under the Financial Stability Act of 2010 that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System and be subject to prudential standards, if the Council determines that material financial distress at the company (or its nature, scope, size, scale, concentration, interconnectedness, or mix of activities) could pose a threat to the financial stability of the United States.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 4881 IN THE HOUSE OF REPRESENTATIVES June 17, 2014 Mr. Neugebauer (for himself, Mr. Ross , Mr. Pittenger , Mr. Bachus , Mr. Stivers , and Mrs. Wagner ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To place a 6-month moratorium on the authority of the Financial Stability Oversight Council to make financial stability determinations.

1. Moratorium Before the end of the 6-month period beginning on the date of the enactment of this Act, the Financial Stability Oversight Council may not make a determination under section 113 of the Financial Stability Act of 2010 ( 12 U.S.C. 5323 ) that a nonbank financial company (as defined under section 102 of such Act) shall be supervised by the Board of Governors of the Federal Reserve System and subject to prudential standards.