Alleviating Stress Test Burdens to Help Investors Act

Bill: 117-s-5004
Sponsor: full_name: Sen. Rounds, Mike [R-SD]
Introduced: 2022-09-29
Policy area: Finance and Financial Sector
Latest action: action_date: 2022-09-29
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2022-09-29
action_desc: Introduced in Senate
text: <p><b>Alleviating Stress Test Burdens To Help Investors Act</b></p> <p>This bill exempts certain financial companies not primarily regulated by either a federal banking agency or the Federal Housing Finance Agency from requirements to conduct stress tests. These stress tests evaluate the ability of companies to absorb losses as a result of adverse economic conditions.</p> <p>However, the Securities and Exchange Commission and the Commodity Futures Trading Commission may require exempted financial companies under their regulatory authority to conduct stress tests.</p>

tv_txt: II 117th CONGRESS 2d Session S. 5004 IN THE SENATE OF THE UNITED STATES September 29, 2022 Mr. Rounds (for himself and Mr. Tester ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Financial Stability Act of 2010 to provide relief to nonbanks from certain stress test requirements under that 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)(2) of the Financial Stability Act of 2010 ( 12 U.S.C. 5365(i)(2) ) is amended— (1) in subparagraph (A), in the second sentence, by striking are regulated by a primary Federal financial regulatory agency and inserting the following: the primary financial regulatory agency with respect to which is a Federal banking agency or the Federal Housing Finance Agency ; (2) in subparagraph (C), in the matter preceding clause (i), by striking Each Federal primary financial regulatory agency and inserting Each Federal banking agency and the Federal Housing Finance Agency ; and (3) 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 the applicable agency is the primary financial regulatory agency to conduct periodic analyses of the financial condition, including available liquidity, of those companies under adverse economic conditions. .