S. 1893

Referred to Committee

Systemic Risk Designation Improvement Act of 2017

Introduced 9/28/2017•115th Congress•Senate

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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

9/28/2017 • Senate

Summary

Systemic Risk Designation Improvement Act of 2017

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to allow the Federal Reserve Board (FRB) to subject a bank holding company to enhanced supervision if: (1) the company has been identified as a global systemically important company; or (2) the risk of the company's financial distress, or the nature of the company's activities, could pose a threat to the financial stability of the United States. Currently, companies are subject to this type of oversight if they possess at least $50 billion in assets or are a nonbank financial company under the FRB's supervision.

The Financial Stability Oversight Council must approve of any metrics used by the FRB in determining by regulation that a category of bank holding companies is subject to enhanced supervision.

Under this bill, companies subject to enhanced supervision may be required to limit mergers and acquisitions, restrict products offered, or maintain a certain debt ratio.

The FRB must publish the list of companies that have been identified as requiring enhanced supervision.

Introduced in Senate • 9/28/2017

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Topics & Subjects

Policy Area: Finance and Financial Sector

Administrative law and regulatory proceduresBanking and financial institutions regulationCorporate finance and managementFederal Reserve SystemFinancial crises and stabilizationGovernment information and archives