3.0.0 1360 2023-01-11T13:37:37Z 2023-01-11T13:37:37Z Senate S 2017-06-14 115 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2017-06-14T21:39:28Z 2017-06-14 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2017-06-14 Introduced in Senate IntroReferral 10000 9 Library of Congress H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV N T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2017-06-14 True Finance and Financial Sector Advisory bodies Congressional oversight Executive agency funding and structure Federal Reserve System Insurance industry and regulation International organizations and cooperation Finance and Financial Sector 00 2017-06-14 Introduced in Senate 2018-08-31T18:52:41Z International Insurance Capital Standards Accountability Act of 2017

This bill directs the Federal Reserve Board (FRB) to establish the Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues.

The bill prohibits the Department of the Treasury and the FRB from agreeing to an international capital insurance standard unless: (1) it meets specified notice and comment requirements, (2) it is consistent with current state-based capital requirements, and (3) it is consistent with any FRB capital requirements for an FRB-supervised company.

Treasury and the FRB must:

  • report annually on their efforts with the National Association of Insurance Commissioners regarding global insurance regulatory or supervisory forums,
  • study an international insurance capital standard's impact on U.S. markets and consumers before agreeing to its adoption, and
  • report on their efforts to increase transparency at meetings of the International Association of Insurance Supervisors.

]]>

International Insurance Capital Standards Accountability Act of 2017 Display Title International Insurance Capital Standards Accountability Act of 2017 Official Title as Introduced A bill to require the Board of Governors of the Federal Reserve System to establish an Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues, and for other purposes. Introduced in Senate IS Short Titles as Introduced International Insurance Capital Standards Accountability Act of 2017 Introduced in Senate 2017-06-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1360is/xml/BILLS-115s1360is.xml 2017-06-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.