3.0.0 6501 2023-01-11T13:43:13Z 2023-01-11T13:43:13Z House HR 2020-04-14 116 [Congressional Record Volume 166, Number 71 (Tuesday, April 14, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARCIA of Illinois:H.R. 6501.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H1889]]]> hsba00 Financial Services Committee House Standing Referred to 2020-04-14T14:01:15Z 2020-04-14 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-04-14 Sponsor introductory remarks on measure. (CR E364-365) IntroReferral B00100 9 Library of Congress 2020-04-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-04-14 Introduced in House IntroReferral 1000 9 Library of Congress G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 N P000618 Rep. Porter, Katie [D-CA-45] Katie Porter D CA 45 2020-04-14 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2020-04-14 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2020-04-14 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2020-04-14 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2020-04-14 True D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2020-04-14 True J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2020-04-28 False O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 2020-04-28 False L000593 Rep. Levin, Mike [D-CA-49] Mike Levin D CA 49 2020-06-26 False Finance and Financial Sector Advisory bodies Banking and financial institutions regulation Climate change and greenhouse gases Executive agency funding and structure Financial crises and stabilization Government employee pay, benefits, personnel management Government ethics and transparency, public corruption Government information and archives Government studies and investigations Finance and Financial Sector 00 2020-04-14 Introduced in House 2021-03-12T19:29:23Z Systemic Risk Mitigation Act of 2020

This bill automatically designates certain nonbank financial companies as systemically important, which subjects these companies to certain prudential standards, including capital and liquidity rules, annual stress tests, and living wills requirements. This designation may be rescinded by the Financial Stability Oversight Council upon further review.

The bill provides the council with rulemaking authority regarding an activity or practice that increases risk to the financial system.

The bill creates the Climate Change Subcommittee within the council to address the risk climate change poses to the financial system.

The bill also revises administrative provisions of the council, including those regarding staffing, funding, and meetings.

]]> Systemic Risk Mitigation Act of 2020 Display Title Systemic Risk Mitigation Act of 2020 Official Title as Introduced To strengthen the Financial Stability Oversight Council, and for other purposes. Introduced in House IH Short Title(s) as Introduced Systemic Risk Mitigation Act of 2020 Introduced in House IH Introduced in House 2020-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6501ih/xml/BILLS-116hr6501ih.xml 2020-04-14 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.