3.0.0 613 2022-11-15T16:32:46Z 2022-11-15T16:32:46Z House H HR 2013-02-12 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CAMPBELL:H.R. 613.Congress has the power to enact this legislation pursuantto the following:Clause 3 of section 8 of article I of the Constitution ofthe United States.[Page H455]]]> hsba00 Financial Services Committee House Standing Referred to 2013-02-12T17:02:35Z 2013-02-12 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-02-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-02-12 Introduced in House IntroReferral 1000 9 Library of Congress C001064 Rep. Campbell, John [R-CA-45] John Campbell R CA 45 N Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Bank accounts, deposits, capital Banking and financial institutions regulation Federal Reserve System Finance and Financial Sector 00 2013-02-12 Introduced in House 2013-03-20T20:38:06Z Systemic Risk Mitigation Act - Establishes a framework for a market-based trigger to monitor and regulate the adequacy of bank capital of those bank holding companies whose total consolidated assets are $50 billion or more.

Directs the Board of Governors of the Federal Reserve System to notify a bank holding company whose average daily closing price exceeds either 50 basis points, or 75 basis points, that it must raise additional tier 1 capital in order to reduce such thresholds.

Requires the Board to place into receivership a bank holding company whose average daily closing price exceeds 100 basis points, in accordance with the orderly liquidation authority provided under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Subjects to receivership a bank holding company that, after notification by the Board, fails to submit an action plan required under this Act.

Sets forth a limitation upon claims of holders of the long-term subordinated debt of a bank holding company that has been placed into receivership.

Directs the Board to require each bank holding company to issue and maintain long-term subordinated debt of at least 15% of its total consolidated assets.

Amends the Bank Holding Company Act of 1956 to repeal prohibitions against proprietary trading and certain relationships with hedge funds and private equity funds.

Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal requirements for enhanced supervision and prudential standards for Board-supervised nonbank financial companies and certain bank holding companies.

]]> Systemic Risk Mitigation Act Display Title Systemic Risk Mitigation Act Short Titles as Introduced Systemic Risk Mitigation Act Official Title as Introduced To establish a market-based trigger to determine the capital adequacy of bank holding companies and decrease systemic risk, and for other purposes. Introduced in House 2013-02-12T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr613ih/xml/BILLS-113hr613ih.xml 2013-02-12 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.