3.0.0 5714 2019-11-15T21:00:55Z 2019-11-15T21:00:55Z House H HR 2012-05-10 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MILLER of North Carolina:H.R. 5714.Congress has the power to enact this legislation pursuantto the following:Article I Section 8.[Page H2646]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2012-10-01T19:23:20Z hsba04 Housing and Insurance Subcommittee Referred to 2012-10-01T19:23:01Z Referred to 2012-05-10T13:04:05Z SAFE Banking Act of 2012 112 3048 S 2012-05-09 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-679. Identical bill CRS 2012-10-01 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2012-10-01 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Insurance, Housing and Community Opportunity. Committee 2012-05-10 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2012-05-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-05-10 Introduced in House IntroReferral 1000 9 Library of Congress M001154 Rep. Miller, Brad [D-NC-13] Brad Miller D NC 13 N E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2012-05-10 True C001037 Rep. Capuano, Michael E. [D-MA-8] MICHAEL CAPUANO D MA E. 8 2012-06-01 False S000344 Rep. Sherman, Brad [D-CA-27] BRAD SHERMAN D CA 27 2012-06-01 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Foreign and international banking Finance and Financial Sector 00 2012-05-10 Introduced in House 2012-07-20T20:24:31Z Safe, Accountable, Fair, and Efficient Banking Act of 2012 or SAFE Banking Act of 2012 - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from holding more than 10% of the total amount of deposits of insured depository institutions in the United States.

Directs the Board of Governors of the Federal Reserve System (Board) to require any bank holding company having a deposit concentration in violation of specified interstate banking requirements to sell or transfer liabilities to unaffiliated firms to bring the company into compliance with them.

Revises the formula in the definition of "liabilities" to replace: (1) the total risk-weighted assets of the financial company (or of the U.S. operations of a foreign-based financial company) as adjusted to reflect exposures that are deducted from regulatory capital; with (2) total assets of the financial company (or of the U.S. operations of a foreign-based financial company), including all off-balance-sheet assets, including financings of assets for which the issuer has more than minimal economic or reputational risks or rewards.

Prohibits a financial company from holding more than 10% of the total consolidated liabilities of all financial companies.

Prescribes leverage ratio requirements for operating subsidiaries of bank holding companies and financial companies to prohibit either a bank holding company with total consolidated assets of $50 billion or more, or a Board-supervised nonbank financial company, from maintaining tangible common equity (qualifying common stockholders' equity plus retained earnings) in an amount less than 10% of average total consolidated assets (which include all off-balance-sheet assets, including financings of assets for which the issuer has more than minimal economic or reputational risks or rewards).

Authorizes federal regulators to grant an emergency temporary exemption from such ratio requirements if necessary to prevent an imminent threat to the financial stability of the United States.

Directs the Board to: (1) establish a leverage ratio for all operating non-insured depository institution subsidiaries of bank holding companies with $50 billion or more in total consolidated assets and nonbank financial companies; and (2) require a noncompliant such company to raise capital, sell, or otherwise transfer assets or off-balance sheet items to unaffiliated firms (prompt corrective action).

Prohibits a bank holding company from possessing nondeposit liabilities exceeding 2% of the annual gross domestic product (GDP) of the United States.

Authorizes the Board to: (1) set a separate liability limit for certain bank holding companies primarily engaged in the business of insurance; and (2) exclude specified deposits from its calculation of nondeposit liabilities if necessary to ensure consistent and equitable treatment of institutions with international operations.

Prohibits a nonbank financial company supervised by the Board from possessing nondeposit liabilities exceeding 3% of the U.S. annual GDP.

]]> SAFE Banking Act of 2012 Short Titles as Introduced Safe, Accountable, Fair, and Efficient Banking Act of 2012 Short Titles as Introduced SAFE Banking Act of 2012 Display Title SAFE Banking Act of 2012 Official Title as Introduced To provide for a safe, accountable, fair, and efficient banking system, and for other purposes. Introduced in House 2012-05-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr5714ih/xml/BILLS-112hr5714ih.xml 2012-10-01 Referred to the Subcommittee on Financial Institutions and Consumer Credit. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.