3.0.0 2266 2023-01-11T13:24:53Z 2023-01-11T13:24:53Z House H HR 2013-06-05 113 [Pages H3215-H3216]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CAPUANO:H.R. 2266.Congress has the power to enact this legislation pursuantto the following:[[Page H3216]]Article I, section 8, clause 3 (relating to the power toregulate interstate commerce).]]> hsba00 Financial Services Committee House Standing Referred to 2013-06-05T14:01:10Z 2013-06-05 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-06-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-06-05 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 N Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Business investment and capital Business records Corporate finance and management Federal Reserve System Financial services and investments Finance and Financial Sector 00 2013-06-05 Introduced in House 2013-07-11T15:05:09Z Subsidy Reserve Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to require a nonbank financial company supervised by the Board of Governors of the Federal Reserve (Board) and each bank holding company with total consolidated assets of $500 billion or more (companies) to establish and maintain a Subsidy Reserve.

Instructs the Board to:

  • establish a formula for determining the financial benefit received by such companies as a result of the expectations on the part of their shareholders, creditors, and counterparties that the government will shield them from losses in the event of their failure;
  • require them to apply the formula annually to their annual financial statement; and
  • maintain the resulting amount in their Subsidy Reserve, in addition to any such previous amounts.

Prohibits a decrease in the amount of funds in the Subsidy Reserve unless a company makes a sale of assets, spins off a subsidiary, or makes a similar divestiture. Permits the decrease only in an amount that reflects the amount of such sale, spin off, or similar divestiture, either on a pro rata basis or according to the risk weighting of the property sold, spun off, or divested.

Prohibits amounts in the Subsidy Reserve from being taken into account when determining the companies' capital for purposes of meeting any capital requirement.

]]> Subsidy Reserve Act of 2013 Display Title Subsidy Reserve Act of 2013 Official Title as Introduced To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require certain systemically important entities to account for the financial benefit they receive as a result of the expectations on the part of shareholders, creditors, and counterparties of such entities that the Government will shield them from losses in the event of failure, and for other purposes. Introduced in House IH Short Titles as Introduced Subsidy Reserve Act of 2013 Introduced in House 2013-06-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr2266ih/xml/BILLS-113hr2266ih.xml 2013-06-05 Referred to the House Committee on Financial Services. 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.