United States 113th Congress Status: Enacted 1 R cosponsors

S 2270 — Insurance Capital Standards Clarification Act of 2014

Last action — Became Public Law No: 113-279.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced April 29, 2014. Enacted.

Summary

Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System. States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary). States that a Board-supervised depository institution holding company or nonbank financial company engaged in the insurance business and regulated by either a state insurance regulator or the National Association of Insurance Commissioners, and which files its holding company financial statements using only Statutory Accounting Principles pursuant to state law, shall not be required by the Board, under this Act or the Home Owners' Loan Act (HOLA), to prepare such financial statements in accordance with Generally Accepted Accounting Principles. Declares that nothing in this Act shall: (1) limit Board authority to conduct any regulatory or supervisory activity of either a depository institution holding company or a non-bank financial company under Board jurisdiction, including the collecting or reporting of any information on an entity or group-wide basis; or (2) excuse the Board from its obligations to comply with Dodd-Frank requirements regarding examination of nonbank financial companies and HOLA requirements regarding examination of savings and loan holding companies.

Bill Text

We don't have the full text on file for this bill yet.

Read S 2270 on the official United States source →

Action History

  1. Became Public Law No: 113-279.

  2. Signed by President.

  3. Presented to President.

  4. Motion to reconsider laid on the table Agreed to without objection.

  5. On passage Passed without objection. (text: CR H9019-9020)

  6. Considered by unanimous consent. (consideration: CR H9019-9020)

  7. Committee on Financial Services discharged.

  8. Mr. Neugebauer asked unanimous consent to discharge from committee and consider.

  9. Committee on Banking, Housing, and Urban Affairs. Hearings held.

  10. Referred to the House Committee on Financial Services.

  11. Received in the House.

  12. Message on Senate action sent to the House.

  13. Passed Senate with an amendment by Unanimous Consent.

  14. S.AMDT.3229 Amendment SA 3229 agreed to in Senate by Unanimous Consent.

  15. S.AMDT.3229 Amendment SA 3229 proposed by Senator Stabenow for Senator Collins. (consideration: CR S3383-3384; text: CR S3383-3384)In the nature of a substitute.

  16. Measure laid before Senate by unanimous consent. (consideration: CR S3383-3384)

  17. Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.

  18. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S2472-2473)

  19. Sponsor introductory remarks on measure. (CR S2471-2472)

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 2270 do?
Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System. States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary). States that a Board-supervised depository institution holding company or nonbank financial company engaged in the insurance business and regulated by either a state insurance regulator or the National Association of Insurance Commissioners, and which files its holding company financial statements using only Statutory Accounting Principles pursuant to state law, shall not be required by the Board, under this Act or the Home Owners' Loan Act (HOLA), to prepare such financial statements in accordance with Generally Accepted Accounting Principles. Declares that nothing in this Act shall: (1) limit Board authority to conduct any regulatory or supervisory activity of either a depository institution holding company or a non-bank financial company under Board jurisdiction, including the collecting or reporting of any information on an entity or group-wide basis; or (2) excuse the Board from its obligations to comply with Dodd-Frank requirements regarding examination of nonbank financial companies and HOLA requirements regarding examination of savings and loan holding companies.
Who sponsors S 2270?
S 2270 is sponsored by Susan Collins (R).
What is the current status of S 2270?
This bill has been enacted into law. Introduced April 29, 2014. Enacted.
Where can I track S 2270?
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