113 HR 2295 IH: Basel III Commonsense Approach for Small Entities Act U.S. House of Representatives 2013-06-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 1st Session H. R. 2295 IN THE HOUSE OF REPRESENTATIVES June 6, 2013 Mr. Murphy of Florida introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency to conduct an empirical impact study on proposed rules relating to the International Basel III agreement on general risk-based capital requirements, as they apply to smaller financial institutions.

1.

Short title

This Act may be cited as the Basel III Commonsense Approach for Small Entities Act or the Basel III CASE Act.

2.

Final rules pending Impact Study

(a)

In general

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (in this Act collectively referred to as the Federal banking agencies) shall conduct an empirical study in accordance with subsection (b) prior to issuing any final rule in relation to proposals issued by the Federal banking agencies for the International Basel III agreement on general risk-based capital requirements. (b)

Issues To be studied

The study required by this section shall include— (1)a quantitative analysis of the impact of such rule on the financial services sector of the United States, specifically community, mid-size, and regional financial institutions; and (2)a determination of the long-term impact of such rule, including changes to the current risk weight framework.

3.

Voluntary Participation

Any financial institution may voluntarily provide information for the study upon the request of the Federal banking agencies, but may not be required to provide such information.

4.

Final report

(a)

Availability to the public

A final report on the completed study required by this Act shall be made available to the public for notice and comment for a period of not less than 3 months. (b)

Review

The Federal banking agencies shall review any comments submitted under subsection (a), and following such review, shall prescribe new rules, if appropriate, based on the results of the study and such comments. Notwithstanding any other provision of law, a new rulemaking following such comment period shall include an additional comment period of not less than 3 months.