[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4293 Referred in Senate (RFS)]

<DOC>
115th CONGRESS
  2d Session
                                H. R. 4293


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 12, 2018

Received; read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 AN ACT


 
 To reform the Comprehensive Capital Analysis and Review process, the 
      Dodd-Frank Act Stress Test process, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stress Test Improvement Act of 
2017''.

SEC. 2. CCAR AND DFAST REFORMS.

    Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (12 U.S.C. 5365(i)) is amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (B)(i)--
                            (i) by striking ``3 different'' and 
                        inserting ``2 different''; and
                            (ii) by striking ``, adverse,''; and
                    (B) by adding at the end the following:
                    ``(C) CCAR requirements.--
                            ``(i) Limitation on qualitative capital 
                        planning objections.--In carrying out CCAR, the 
                        Board of Governors may not object to a 
                        company's capital plan on the basis of 
                        qualitative deficiencies in the company's 
                        capital planning process.
                            ``(ii) CCAR defined.--For purposes of this 
                        subparagraph and subparagraph (E), the term 
                        `CCAR' means the Comprehensive Capital Analysis 
                        and Review established by the Board of 
                        Governors.''; and
            (2) in paragraph (2)--
                    (A) in subparagraph (A), by striking ``semiannual'' 
                and inserting ``annual''; and
                    (B) in subparagraph (C)(ii), by striking ``3 
                different sets of conditions, including baseline, 
                adverse,'' and inserting ``2 different sets of 
                conditions, including baseline''.

SEC. 3. RULE OF CONSTRUCTION.

    The amendments made by this Act may not be construed to prohibit an 
appropriate Federal banking agency (as defined in section 3 of the 
Federal Deposit Insurance Act (12 U.S.C. 1813)) from--
            (1) ensuring the safety and soundness of an entity 
        regulated by such an appropriate Federal banking agency; and
            (2) ensuring compliance with applicable laws, regulations, 
        and supervisory policies, and the following of appropriate 
        guidance, by an entity regulated by such an appropriate Federal 
        banking agency.

SEC. 4. REDUCTION OF SURPLUS FUNDS OF FEDERAL RESERVE BANKS.

    (a) In General.--Section 7(a)(3)(A) of the Federal Reserve Act (12 
U.S.C. 289(a)(3)(A)) is amended by striking ``$7,500,000,000'' and 
inserting ``$7,480,000,000''.
    (b) Effective Date.--Subsection (a) shall take effect on June 1, 
2018.

            Passed the House of Representatives April 11, 2018.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.