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US HR2121

US HR2121
Pension, Endowment, and Mutual Fund Access to Banking Act


summary

Introduced
04/25/2017
In Committee
10/12/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Pension, Endowment, and Mutual Fund Access to Banking Act This bill excludes, for purposes of calculating a custodial bank's supplementary leverage ratio, funds of a custodial bank that are deposited with certain central banks. ("Supplementary leverage ratio" is a capital adequacy measure that refers to the ratio of a banking organization's tier-one capital to its leverage exposure.) The amount of such funds shall be limited, as specified by the bill.

AI Summary

This bill excludes, for the purposes of calculating a custodial bank's supplementary leverage ratio (a capital adequacy measure), the funds of a custodial bank that are deposited with certain "high-quality" central banks, such as the Federal Reserve System, the European Central Bank, and central banks of member countries of the Organisation for Economic Co-operation and Development that meet certain criteria. The amount of such funds excluded is limited to the total value of deposits linked to fiduciary or custodial and safekeeping accounts, or a specified percentage of the custodial bank's total leverage exposure. The appropriate federal banking agencies are required to revise regulations to implement this change within 60 days of the bill's enactment.

Committee Categories

Business and Industry

Sponsors (39)

Keith Rothfus (R)* Jim Banks (R),  Andy Barr (R),  Ted Budd (R),  Bradley Byrne (R),  Michael Capuano (D),  Katherine Clark (D),  Daniel Donovan (R),  Tom Emmer (R),  Bill Foster (D),  Josh Gottheimer (D),  French Hill (R),  Jim Himes (D),  Bill Huizenga (R),  Randy Hultgren (R),  David Loebsack (D),  Barry Loudermilk (R),  Blaine Luetkemeyer (R),  Stephen Lynch (D),  Thomas MacArthur (R),  Carolyn Maloney (D),  Jim McGovern (D),  Gregory Meeks (D),  Luke Messer (R),  Alex Mooney (R),  Gwen Moore (D),  Seth Moulton (D),  Robert Pittenger (R),  Bruce Poliquin (R),  Bill Posey (R),  Dennis Ross (R),  Edward Royce (R),  Kyrsten Sinema (I),  Steve Stivers (R),  Claudia Tenney (R),  Scott Tipton (R),  Nydia Velázquez (D),  Ann Wagner (R),  Lee Zeldin (R), 

Last Action

Placed on the Union Calendar, Calendar No. 504. (on 04/26/2018)

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