Stop Basel Endgame Act

Bill: 118-hr-7143
Sponsor: full_name: Rep. Ogles, Andrew [R-TN-5]
Introduced: 2024-01-30
Policy area: Finance and Financial Sector
Latest action: action_date: 2024-01-30
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2024-01-30
action_desc: Introduced in House
text: <p><strong>Stop Basel Endgame Act</strong></p><p>This bill requires the withdrawal of the proposed rule titled <em>Regulatory Capital Rule: Large Banking Organizations and Banking Organizations with Significant Trading Activity</em>. The proposed rule revises bank capital requirements and calculations, including by requiring banks to replace their use of internal credit risk models with a standardized approach generally in line with international standards set by the Basel Committee on Banking Supervision. The rule was proposed on September 18, 2023, by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.&nbsp;</p>

tv_txt: I 118th CONGRESS 2d Session H. R. 7143 IN THE HOUSE OF REPRESENTATIVES January 30, 2024 Mr. Ogles (for himself and Mr. Donalds ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the heads of certain agencies to withdraw a proposed rule relating to capital requirements applicable to large banking organizations and banking organizations with significant trading activity, and for other purposes.

1. Short title This Act may be cited as the Stop Basel Endgame Act . 2. Withdrawal of Regulatory Capital Rule (a) In general The head of each covered agency— (1) shall withdraw the proposed rule entitled Regulatory Capital Rule: Large Banking Organizations and Banking Organizations with Significant Trading Activity (88 Fed. Reg. 64028); and (2) may not take any action to finalize, implement, or enforce the proposed rule described in paragraph (1) or any substantially similar rule. (b) Covered agency defined For purposes of this section, the term covered agency means each of the following Federal agencies: (1) The Office of the Comptroller of the Currency. (2) The Federal Reserve System. (3) The Federal Deposit Insurance Corporation.