3.0.0 6391 2023-01-11T13:34:01Z 2023-01-11T13:34:01Z House HR 2016-11-18 114 [Congressional Record Volume 162, Number 166 (Friday, November 18, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LUETKEMEYER:H.R. 6391.Congress has the power to enact this legislation pursuantto the following:The constitutional authority on which this bill rests liesin Article 1, Section 7, Clause 2 of the Constitution, whichallows for every bill passed by the House of Representativesand the Senate and signed by the President to be codifiedinto law; and therefore implicitly allows Congress to repealany bill that has been passed by both chambers and signedinto law by the President.Additionally, the Constitution grants to Congress theexplicit power to regulate commerce in and among the states,as enumerate in Article 1, Section 8, Clause 3, the CommerceClause.____________________[Page H6307]]]> hsba00 Financial Services Committee House Standing Referred to 2016-11-18T20:00:14Z Systemic Risk Designation Improvement Act of 2015 114 1309 HR 2016-09-19 Placed on the Union Calendar, Calendar No. 584. Related bill CRS Systemic Risk Designation Improvement Act of 2016 114 6390 HR 2016-11-18 Referred to the House Committee on Financial Services. Related bill CRS Systemic Risk Designation Improvement Act of 2016 114 6392 HR 2016-12-05 Received in the Senate. Related bill CRS 2016-11-18 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2016-11-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-11-18 Introduced in House IntroReferral 1000 9 Library of Congress L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 N Finance and Financial Sector Finance and Financial Sector 00 2016-11-18 Introduced in House 2016-12-05T19:43:40Z Systemic Risk Designation Improvement Act of 2016

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities, could threaten the financial stability of the United States. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards.

FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance.

A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons.

A bank holding company with total consolidated assets of $50 billion or more on the date of the enactment of this bill may elect to be subject to enhanced supervision and prudential standards by notifying FSOC within one year after this bill's enactment.

]]> Systemic Risk Designation Improvement Act of 2016 Display Title Systemic Risk Designation Improvement Act of 2016 Official Title as Introduced To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision, and for other purposes. Introduced in House IH Short Titles as Introduced Systemic Risk Designation Improvement Act of 2016 Introduced in House 2016-11-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr6391ih/xml/BILLS-114hr6391ih.xml 2016-11-18 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.