[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4296 Referred in Senate (RFS)]

<DOC>
115th CONGRESS
  2d Session
                                H. R. 4296


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 28, 2018

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

_______________________________________________________________________

                                 AN ACT


 
  To place requirements on operational risk capital requirements for 
  banking organizations established by an appropriate Federal banking 
                                agency.

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

SECTION 1. OPERATIONAL RISK CAPITAL REQUIREMENTS FOR BANKING 
              ORGANIZATIONS.

    (a) In General.--An appropriate Federal banking agency may not 
establish an operational risk capital requirement for banking 
organizations, unless such requirement--
            (1) is based primarily on the risks posed by a banking 
        organization's current activities and businesses;
            (2) is appropriately sensitive to the risks posed by such 
        current activities and businesses;
            (3) is determined under a forward-looking assessment of 
        potential losses that may arise out of a banking organization's 
        current activities, businesses, and exposures, which is not 
        solely based on a banking organization's historical losses; and
            (4) permits adjustments based on qualifying operational 
        risk mitigants.
    (b) Definitions.--For purposes of this section:
            (1) Appropriate federal banking agency.--The term 
        ``appropriate Federal banking agency''--
                    (A) has the meaning given such term under section 3 
                of the Federal Deposit Insurance Act; and
                    (B) means the National Credit Union Administration, 
                in the case of an insured credit union.
            (2) Banking organization.--The term ``banking 
        organization'' means--
                    (A) an insured depository institution (as defined 
                under section 3 of the Federal Deposit Insurance Act);
                    (B) an insured credit union (as defined under 
                section 101 of the Federal Credit Union Act);
                    (C) a depository institution holding company (as 
                defined under section 3 of the Federal Deposit 
                Insurance Act);
                    (D) a company that is treated as a bank holding 
                company for purposes of section 8 of the International 
                Banking Act; and
                    (E) a U.S. intermediate holding company established 
                by a foreign banking organization pursuant to section 
                252.153 of title 12, Code of Federal Regulations.

SEC. 2. 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 ``$7,468,571,428''.
    (b) Effective Date.--Subsection (a) shall take effect on May 1, 
2018.

            Passed the House of Representatives February 27, 2018.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.