3.0.0 2600 2023-01-11T13:31:01Z 2023-01-11T13:31:01Z House HR 2015-06-01 114 [Congressional Record Volume 161, Number 86 (Monday, June 1, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SHERMAN:H.R. 2600.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H3642]]]> hsba00 Financial Services Committee House Standing Referred to 2015-06-01T16:00:31Z Too Big To Fail, Too Big To Exist Act 114 1206 S 2015-05-06 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2015-06-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-06-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-06-01 Introduced in House IntroReferral 1000 9 Library of Congress S000344 Rep. Sherman, Brad [D-CA-30] BRAD SHERMAN D CA 30 N G000556 Rep. Grayson, Alan [D-FL-9] Alan Grayson D FL 9 2015-06-01 True L000582 Rep. Lieu, Ted [D-CA-33] Ted Lieu D CA 33 2016-12-08 False Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Credit and credit markets Economic performance and conditions Financial crises and stabilization Government lending and loan guarantees Securities Finance and Financial Sector 00 2015-06-01 Introduced in House 2015-06-24T18:16:23Z Too Big to Fail, Too Big to Exist Act

This bill directs the Financial Stability Oversight Council to compile and submit to the Secretary of the Treasury a list of entities that the Council deems Too Big To Fail (List), including U.S. bank holding companies the Financial Stability Board has identified as systemically important banks.

The Secretary of the Treasury shall: (1) submit the List to Congress and the President, and (2) break up entities on the List so that their failure would no longer cause a catastrophic effect upon the U.S. or global economy without a taxpayer bailout.

Any entity on the List may not use or have access to advances from any Federal Reserve credit facility, the Federal Reserve discount window, or any program or facility made available under the Federal Reserve Act, including asset purchases, temporary or bridge loans, government investments in debt or equity, or capital injections from any federal institution.

No insured depository institution on the List, nor any entity that owns one, may use insured deposit amounts to fund:

  • any activity relating to hedging that is not directly related to commercial banking activity at the insured bank,
  • any use of derivatives for speculative purposes,
  • any activity related to the dealing of derivatives, or
  • any other form of speculative activity specified by regulators.

Nor may any entity on the List conduct such activities in a manner that either: (1) puts insured deposits at risk, or (2) creates a risk of loss to the Deposit Insurance Fund.

]]> Too Big To Fail, Too Big To Exist Act Display Title Too Big To Fail, Too Big To Exist Act Official Title as Introduced To address the concept of "Too Big To Fail" with respect to certain financial entities. Introduced in House IH Short Titles as Introduced Too Big To Fail, Too Big To Exist Act Introduced in House 2015-06-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr2600ih/xml/BILLS-114hr2600ih.xml 2015-06-01 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.