Alleviating Stress Test Burdens to Help Investors Act

Bill: 115-hr-4566
Sponsor: full_name: Rep. Poliquin, Bruce [R-ME-2]
Introduced: 2017-12-06
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Bank accounts, deposits, capital

Banking and financial institutions regulation

Commodity Futures Trading Commission

Financial services and investments

Government studies and investigations

Securities and Exchange Commission (SEC)
Latest action: action_date: 2018-03-21
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-12-06
action_desc: Introduced in House
text: <p><b>Alleviating Stress Test Burdens to Help Investors Act</b></p> <p>This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to: (1)&nbsp;exempt certain nonbank financial companies from requirements to conduct stress tests, and (2) eliminate the Federal Reserve Board's authority to conduct stress tests of nonbank financial companies more than once annually.</p>

action_date: 2018-03-15
action_desc: Reported to House with amendment(s)
text: <p><b>Alleviating Stress Test Burdens to Help Investors Act</b></p> <p>This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to: (1) eliminate the Federal Reserve Board's authority to conduct stress tests of nonbank financial companies more than once annually, and (2) exempt certain financial companies not primarily regulated by either a federal banking agency or the Federal Housing Finance Agency from requirements to conduct stress tests.</p> <p>The Securities and Exchange Commission and the Commodity Futures Trading Commission may issue separate regulations requiring specified financial companies&nbsp;with more than $10 billion in total consolidated assets&nbsp;to conduct financial-condition analyses. </p>

tv_txt: I 115th CONGRESS 1st Session H. R. 4566 IN THE HOUSE OF REPRESENTATIVES December 6, 2017 Mr. Poliquin introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide relief to nonbanks from certain stress test requirements under such Act.

1. Short title This Act may be cited as the Alleviating Stress Test Burdens to Help Investors Act . 2. Stress test relief for nonbanks Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365(i) ) is amended— (1) in paragraph (1)(B)(ii), by striking and nonbank financial companies ; (2) in paragraph (2)— (A) in subparagraph (A)— (i) by striking other financial companies and inserting other bank holding companies ; and (ii) by striking and are regulated by a primary Federal financial regulatory agency ; and (B) in subparagraph (C), by striking Each Federal primary financial regulatory agency, in coordination with the Board of Governors and the Federal Insurance Office, shall issue consistent and comparable and inserting The Board of Governors, in coordination with the Federal primary financial regulatory agencies and the Federal Insurance Office shall issue ; and (3) by adding at the end the following: (3) Limitation The Board of Governors may limit the requirements of this subsection with respect to a nonbank financial company supervised by the Board of Governors, if the Board of Governors determines such limitation is appropriate. .

tv_txt: I 115th CONGRESS 2d Session H. R. 4566 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide relief to nonbanks from certain stress test requirements under such Act.

1. Short title This Act may be cited as the Alleviating Stress Test Burdens to Help Investors Act . 2. Stress test relief for nonbanks Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365(i) ) is amended— (1) in paragraph (1)(B)— (A) by redesignating clauses (ii) through (v) as clauses (iii) through (vi), respectively; (B) by inserting after clause (i) the following: (ii) may conduct the evaluation required by this subsection utilizing alternatives to the capital adequacy test described in subparagraph (A), as the Board may determine appropriate; ; (C) in clause (iii), as so redesignated, by inserting before the semicolon the following: , provided that such tests of any nonbank financial company— (I) are requested by a majority vote of the Council; (II) are conducted in accordance with the company’s business model, including by utilizing alternatives to the capital adequacy test described in subparagraph (A), as the Board may determine appropriate; and (III) are not already required by the company’s Federal primary financial regulatory agency ; and (D) in clause (vi), as so redesignated, by striking clause (ii) and inserting clause (iii) ; and (2) in paragraph (2)— (A) in subparagraph (A), by striking are regulated by a primary Federal financial regulatory agency and inserting: whose primary financial regulatory agency is a Federal banking agency or the Federal Housing Finance Agency ; (B) in subparagraph (C), by striking Each Federal primary financial regulatory agency and inserting Each Federal banking agency and the Federal Housing Finance Agency ; and (C) by adding at the end the following: (D) SEC and CFTC The Securities and Exchange Commission and the Commodity Futures Trading Commission may each issue regulations requiring financial companies with respect to which they are the primary financial regulatory agency to conduct periodic analyses of the financial condition, including available liquidity, of such companies under adverse economic conditions. . 3. Rule of construction Nothing in this Act shall be construed to limit the authority of the Financial Stability Oversight Council under section 120 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5330 ).

Passed the House of Representatives March 20, 2018. Karen L. Haas, Clerk.

tv_txt: IIB 115th CONGRESS 2d Session H. R. 4566 IN THE SENATE OF THE UNITED STATES March 21, 2018 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide relief to nonbanks from certain stress test requirements under such Act.

1. Short title This Act may be cited as the Alleviating Stress Test Burdens to Help Investors Act . 2. Stress test relief for nonbanks Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365(i) ) is amended— (1) in paragraph (1)(B)— (A) by redesignating clauses (ii) through (v) as clauses (iii) through (vi), respectively; (B) by inserting after clause (i) the following: (ii) may conduct the evaluation required by this subsection utilizing alternatives to the capital adequacy test described in subparagraph (A), as the Board may determine appropriate; ; (C) in clause (iii), as so redesignated, by inserting before the semicolon the following: , provided that such tests of any nonbank financial company— (I) are requested by a majority vote of the Council; (II) are conducted in accordance with the company’s business model, including by utilizing alternatives to the capital adequacy test described in subparagraph (A), as the Board may determine appropriate; and (III) are not already required by the company’s Federal primary financial regulatory agency ; and (D) in clause (vi), as so redesignated, by striking clause (ii) and inserting clause (iii) ; and (2) in paragraph (2)— (A) in subparagraph (A), by striking are regulated by a primary Federal financial regulatory agency and inserting: whose primary financial regulatory agency is a Federal banking agency or the Federal Housing Finance Agency ; (B) in subparagraph (C), by striking Each Federal primary financial regulatory agency and inserting Each Federal banking agency and the Federal Housing Finance Agency ; and (C) by adding at the end the following: (D) SEC and CFTC The Securities and Exchange Commission and the Commodity Futures Trading Commission may each issue regulations requiring financial companies with respect to which they are the primary financial regulatory agency to conduct periodic analyses of the financial condition, including available liquidity, of such companies under adverse economic conditions. . 3. Rule of construction Nothing in this Act shall be construed to limit the authority of the Financial Stability Oversight Council under section 120 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5330 ).

Passed the House of Representatives March 20, 2018. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 457 115th CONGRESS 2d Session H. R. 4566 [Report No. 115–601] IN THE HOUSE OF REPRESENTATIVES December 6, 2017 Mr. Poliquin introduced the following bill; which was referred to the Committee on Financial Services March 15, 2018 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on December 6, 2017 A BILL To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide relief to nonbanks from certain stress test requirements under such Act.

1. Short title This Act may be cited as the Alleviating Stress Test Burdens to Help Investors Act . 2. Stress test relief for nonbanks Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365(i) ) is amended— (1) in paragraph (1)(B)(ii), by striking and nonbank financial companies ; and (2) in paragraph (2)— (A) in subparagraph (A), by striking are regulated by a primary Federal financial regulatory agency and inserting: whose primary financial regulatory agency is a Federal banking agency or the Federal Housing Finance Agency ; (B) in subparagraph (C), by striking Each Federal primary financial regulatory agency and inserting Each Federal banking agency and the Federal Housing Finance Agency ; and (C) by adding at the end the following: (D) SEC and CFTC The Securities and Exchange Commission and the Commodity Futures Trading Commission may each issue regulations requiring financial companies with respect to which they are the primary financial regulatory agency and that have total consolidated assets of more than $10,000,000,000 to conduct periodic analyses of the financial condition, including available liquidity, of such companies under adverse economic conditions. . 3. Rule of construction Nothing in this Act shall be construed to limit the authority of the Financial Stability Oversight Council under section 120 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5330 ).

March 15, 2018 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed