summary
Introduced
04/16/2015
04/16/2015
In Committee
04/16/2015
04/16/2015
Crossed Over
Passed
Dead
01/03/2017
01/03/2017
Introduced Session
114th Congress
Bill Summary
Restoring Proven Financing for American Employers Act This bill amends the Bank Holding Company Act of 1956 governing certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule). It delays until July 21, 2019, the requirement that a banking entity or nonbank financial company supervised by the Board of Governors of the Federal Reserve System bring into compliance with the Volcker Rule its activities related to or investments in any debt securities of collateralized loan obligations issued before January 31, 2014.
AI Summary
This bill, titled the Restoring Proven Financing for American Employers Act, amends the Volcker Rule, which is part of the Bank Holding Company Act of 1956 and restricts certain trading activities and investments by banking entities. Specifically, it delays the deadline for banking entities and nonbank financial companies supervised by the Board of Governors of the Federal Reserve System to comply with the Volcker Rule regarding their activities and investments in debt securities of collateralized loan obligations (CLOs) issued before January 31, 2014. A CLO is defined as an entity that issues asset-backed securities primarily composed of commercial loans. The bill extends the compliance deadline for these specific CLO investments to July 21, 2019.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 04/16/2015)
Official Document
bill text
bill summary
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bill summary
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bill summary
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