Systemic Risk Designation Improvement Act of 2016
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities, could threaten the financial stability of the United States. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards.
FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance.
A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2016-12-05 | IntroReferral | Received in the Senate. | Senate |
| 2016-12-01 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2016-12-01 | Vote | On passage Passed by the Yeas and Nays: 254 - 161 (Roll no. 599). (text: CR H7074-7075) | House floor actions |
| 2016-12-01 | Vote | On motion to recommit with instructions Failed by the Yeas and Nays: 178 - 236 (Roll no. 598). | House floor actions |
| 2016-12-01 | Floor | Considered as unfinished business. (consideration: CR H7098-7100) | House floor actions |
| 2016-12-01 | Floor | POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on adopting the motion and by voice vote, announced that the ayes had prevailed. Ms. Waters (CA) demanded the yeas and nays, and pursuant to a previous order of the House, the Chair postponed further proceedings on the motion to recommit with instructions until a time to be announced. | House floor actions |
| 2016-12-01 | Floor | The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H7086) | House floor actions |
| 2016-12-01 | Floor | DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add an exemption to the underlying bill for any bank holding company over $50 billion that has any pending litigation or enforcement matters with an agency of the U.S. government, pending the reservation of a point of order. Subsequently, the point of order was withdrawn. | House floor actions |
| 2016-12-01 | Floor | Ms. Waters, Maxine moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H7084; text: CR H7084) | House floor actions |
| 2016-12-01 | Floor | DEBATE - Pursuant to the provisions of H.Res. 934, the House proceeded with 10 minutes of debate on the Davidson amendment. | House floor actions |
| 2016-12-01 | Floor | DEBATE - The House proceeded with one hour of debate on H.R. 6392. | House floor actions |
| 2016-12-01 | Floor | Rule provides for consideration of H.R. 34 and H.R. 6392. Providing for consideration for the Senate amendment to H.R. 34 and for consideration of H.R. 6392. | House floor actions |
| 2016-12-01 | Floor | Considered under the provisions of rule H. Res. 934. (consideration: CR H7074-7086) | House floor actions |
| 2016-12-01 | Floor | ORDER OF PROCEDURE - Mr. Hensarling asked unanimous consent that the question of adopting a motion to recommit on H.R. 6392 be subject to postponement as though under Clause 8 of Rule 20. Agreed to without objection. | House floor actions |
| 2016-11-30 | Floor | Rule H. Res. 934 passed House. | House floor actions |
| 2016-11-29 | Floor | Rules Committee Resolution H. Res. 934 Reported to House. Rule provides for consideration of H.R. 34 and H.R. 6392. Providing for consideration for the Senate amendment to H.R. 34 and for consideration of H.R. 6392. | House floor actions |
| 2016-11-22 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2016-11-22 | IntroReferral | Introduced in House | Library of Congress |