Systemic Risk Mitigation Act
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HR 613 — Systemic Risk Mitigation Act
Last action — Referred to the House Committee on Financial Services.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Systemic Risk Mitigation Act - Establishes a framework for a market-based trigger to monitor and regulate the adequacy of bank capital of those bank holding companies whose total consolidated assets are $50 billion or more. Directs the Board of Governors of the Federal Reserve System to notify a bank holding company whose average daily closing price exceeds either 50 basis points, or 75 basis points, that it must raise additional tier 1 capital in order to reduce such thresholds. Requires the Board to place into receivership a bank holding company whose average daily closing price exceeds 100 basis points, in accordance with the orderly liquidation authority provided under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Subjects to receivership a bank holding company that, after notification by the Board, fails to submit an action plan required under this Act. Sets forth a limitation upon claims of holders of the long-term subordinated debt of a bank holding company that has been placed into receivership. Directs the Board to require each bank holding company to issue and maintain long-term subordinated debt of at least 15% of its total consolidated assets. Amends the Bank Holding Company Act of 1956 to repeal prohibitions against proprietary trading and certain relationships with hedge funds and private equity funds. Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal requirements for enhanced supervision and prudential standards for Board-supervised nonbank financial companies and certain bank holding companies.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 613 on the official United States source →Action History
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Referred to the House Committee on Financial Services.
Sponsors
- John Campbell · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
- John Campbell Federalist
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 613 do?
- Systemic Risk Mitigation Act - Establishes a framework for a market-based trigger to monitor and regulate the adequacy of bank capital of those bank holding companies whose total consolidated assets are $50 billion or more. Directs the Board of Governors of the Federal Reserve System to notify a bank holding company whose average daily closing price exceeds either 50 basis points, or 75 basis points, that it must raise additional tier 1 capital in order to reduce such thresholds. Requires the Board to place into receivership a bank holding company whose average daily closing price exceeds 100 basis points, in accordance with the orderly liquidation authority provided under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Subjects to receivership a bank holding company that, after notification by the Board, fails to submit an action plan required under this Act. Sets forth a limitation upon claims of holders of the long-term subordinated debt of a bank holding company that has been placed into receivership. Directs the Board to require each bank holding company to issue and maintain long-term subordinated debt of at least 15% of its total consolidated assets. Amends the Bank Holding Company Act of 1956 to repeal prohibitions against proprietary trading and certain relationships with hedge funds and private equity funds. Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal requirements for enhanced supervision and prudential standards for Board-supervised nonbank financial companies and certain bank holding companies.
- Who sponsors HR 613?
- HR 613 is sponsored by John Campbell (Federalist).
- What is the current status of HR 613?
- This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 613?
- Track HR 613 free on One Click Politics — get push/email alerts when it moves.
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