[House Report 115-595]
[From the U.S. Government Publishing Office]


115th Congress    }                                 {        Report
                        HOUSE OF REPRESENTATIVES
 2d Session       }                                 {         115-595
======================================================================

 
   PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 4545) TO AMEND THE 
   FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL ACT OF 1978 TO 
   IMPROVE THE EXAMINATION OF DEPOSITORY INSTITUTIONS, AND FOR OTHER 
   PURPOSES; PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 1116) TO 
REQUIRE THE FEDERAL FINANCIAL INSTITUTIONS REGULATORY AGENCIES TO TAKE 
  RISK PROFILES AND BUSINESS MODELS OF INSTITUTIONS INTO ACCOUNT WHEN 
 TAKING REGULATORY ACTIONS, AND FOR OTHER PURPOSES; AND PROVIDING FOR 
 CONSIDERATION OF THE BILL (H.R. 4263) TO AMEND THE SECURITIES ACT OF 
  1933 WITH RESPECT TO SMALL COMPANY CAPITAL FORMATION, AND FOR OTHER 
                                PURPOSES

                                _______
                                

   March 13, 2018.--Referred to the House Calendar and ordered to be 
                                printed

                                _______
                                

                Mr. Buck, from the Committee on Rules, 
                        submitted the following

                              R E P O R T

                       [To accompany H. Res. 773]

    The Committee on Rules, having had under consideration 
House Resolution 773, by a nonrecord vote, report the same to 
the House with the recommendation that the resolution be 
adopted.

                SUMMARY OF PROVISIONS OF THE RESOLUTION

    The resolution provides for consideration of H.R. 4545, the 
Financial Institutions Examination Fairness and Reform Act, 
under a structured rule. The resolution provides one hour of 
debate equally divided and controlled by the chair and ranking 
minority member of the Committee on Financial Services. The 
resolution waives all points of order against consideration of 
the bill. The resolution provides that the amendment printed in 
part A of this report shall be considered as adopted and the 
bill, as amended, shall be considered as read. The resolution 
waives all points of order against provisions in the bill, as 
amended. The resolution makes in order only the further 
amendment printed in part B of the this report, if offered by 
the Member designated in this report, which shall be considered 
as read, shall be debatable for the time specified in this 
report equally divided and controlled by the proponent and an 
opponent, shall not be subject to amendment, and shall not be 
subject to a demand for division of the question. The 
resolution waives all points of order against the amendment 
printed in this report. The resolution provides one motion to 
recommit with or without instructions.
    Section 2 of the resolution provides for consideration of 
H.R. 1116, the TAILOR Act of 2017, under a closed rule. The 
resolution provides one hour of debate equally divided and 
controlled by the chair and ranking minority member of the 
Committee on Financial Services. The rule waives all points of 
order against consideration of the bill. The resolution 
provides that the amendment printed in part B of this report 
shall be considered as adopted and the bill, as amended shall 
be considered as read. The resolution waives all points of 
order against provisions in the bill, as amended. The 
resolution provides for one motion to recommit with or without 
instructions.
    Section 3 of the resolution provides consideration of H.R. 
4263, the Regulation A+ Improvement Act of 2017, under a closed 
rule. The resolution provides one hour of debate equally 
divided and controlled by the chair and ranking minority member 
of the Committee on Financial Services. The rule waives all 
points of order against consideration of the bill. The 
resolution provides that the amendment printed in part D of 
this report shall be considered as adopted and the bill, as 
amended shall be considered as read. The resolution waives all 
points of order against consideration of the bill, as amended. 
The resolution provides one motion to recommit with or without 
instructions.

                         EXPLANATION OF WAIVERS

    The waiver of all points of order against consideration of 
H.R. 4545 includes a waiver of the following:
           Section 302(f) of the Congressional Budget 
        Act, which prohibits consideration of legislation 
        providing new budget authority in excess of a 302(a) 
        allocation of such authority;
           Section 303 of the Congressional Budget Act, 
        which prohibits consideration of legislation, providing 
        a change in revenues for a fiscal year until the budget 
        resolution for that year has been agreed to;
           Section 311 of the Congressional Budget Act, 
        which prohibits consideration of legislation that would 
        cause the level of total new budget authority for the 
        first fiscal year to be exceeded; and
           Clause 10 of rule XXI, which prohibits the 
        consideration of a bill if it has the net effect of 
        increasing mandatory spending over the five-year or 
        ten-year period.
    Although the resolution waives all points of order against 
provisions in H.R. 4545, as amended, the Committee is not aware 
of any points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
the amendment to H.R. 4545 printed in part B of this report, 
the Committee is not aware of any points of order. The waiver 
is prophylactic in nature.
    The waiver of all points of order against consideration of 
H.R. 1116 includes a waiver of the following:
           Section 302(f) of the Congressional Budget 
        Act, which prohibits consideration of legislation 
        providing new budget authority in excess of a 302(a) 
        allocation of such authority;
           Section 311 of the Congressional Budget Act, 
        which prohibits consideration of legislation that would 
        cause the level of total new budget authority for the 
        first fiscal year to be exceeded, or would cause 
        revenues to be less than the level of total revenues 
        for the first fiscal year or for the total of that 
        first fiscal year and the ensuing fiscal years for 
        which allocations are provided; and
           Clause 10 of rule XXI, which prohibits the 
        consideration of a bill if it has the net effect of 
        increasing mandatory spending over the five-year or 
        ten-year period.
    Although the resolution waives all points of order against 
provisions in H.R. 1116, as amended, the Committee is not aware 
of any points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
consideration of H.R. 4263, the Committee is not aware of any 
points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
provisions in H.R. 4263 as amended, the Committee is not aware 
of any points of order. The waiver is prophylactic in nature.

 SUMMARY OF THE AMENDMENT TO H.R. 4545 IN PART A CONSIDERED AS ADOPTED

    1. Tipton (CO): Reduces the Federal Reserve Banks Surplus 
Fund.

     SUMMARY OF THE AMENDMENT TO H.R. 4545 IN PART B MADE IN ORDER

    1. Waters (CA): Narrows the applicability of the bill's 
additional appeal process from applying to all financial 
institutions regardless of their size, including megabanks and 
payday lenders, to only small, community banks and credit 
unions with less than $10 billion in assets. (10 minutes)

 SUMMARY OF THE AMENDMENT TO H.R. 1116 IN PART C CONSIDERED AS ADOPTED

    1. Tipton (CO): Reduces the Federal Reserve Banks Surplus 
Fund.

 SUMMARY OF THE AMENDMENT TO H.R. 4263 IN PART D CONSIDERED AS ADOPTED

    1. MacArthur (NJ): Corrects drafting error in bill short 
title.

      PART A--TEXT OF AMENDMENT TO H.R. 4545 CONSIDERED AS ADOPTED

  Add at the end the following:

SEC. 7. 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 ``$7,324,285,000''.
  (b) Effective Date.--Subsection (a) shall take effect on June 
1, 2018.

          PART B--TEXT OF AMENDMENT TO H.R. 4545 MADE IN ORDER

1. An Amendment To Be Offered by Representative Waters of California or 
                 Her Designee, Debatable for 10 Minutes

  Amend section 2 to read as follows:

SEC. 2. AMENDMENT TO DEFINITIONS.

  Section 1003 of the Federal Financial Institutions 
Examination Council Act of 1978 (12 U.S.C. 3302) is amended--
          (1) by redesignating paragraphs (2) and (3) as 
        paragraphs (3) and (4), respectively; and
          (2) by inserting after paragraph (2) the following
          ``(2) the term `community financial institution' 
        means a financial institution with total consolidated 
        assets of $10,000,000,000 or less;''.
  Strike ``financial institution'' each place such term appears 
and insert ``community financial institution''.
  Page 6, line 5, strike ``financial institutions'' and insert 
``community financial institutions''.
  Page 6, line 12, strike ``financial institutions'' and insert 
``community financial institutions''.
  Page 8, line 3, strike ``financial institutions'' and insert 
``community financial institutions''.
  Page 9, line 14, strike ``financial institution's'' and 
insert ``community financial institution's''.
  Page 12, beginning on line 4, strike ``financial 
institutions'' and insert ``community financial institutions''.
  Page 12, line 6, strike ``financial institutions'' and insert 
``community financial institutions''.
  Page 15, beginning on line 21, strike ``-- (A)''.
  Page 16, line 2, insert a period and a quotation mark before 
the semicolon.
  Page 16, strike lines 3 through 5.

      PART C--TEXT OF AMENDMENT TO H.R. 1116 CONSIDERED AS ADOPTED

  Add at the end the following:

SEC. 3. 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 ``$7,385,714,000''.
  (b) Effective Date.--Subsection (a) shall take effect on June 
1, 2018.

      PART D--TEXT OF AMENDMENT TO H.R. 4263 CONSIDERED AS ADOPTED

  Amend section 1 to read as follows:

SECTION 1. SHORT TITLE.

  This Act may be cited as the ``Regulation A+ Improvement Act 
of 2017''.

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