,,ib ,union ,calendar ,no4 #cac #aaeth ,,congress #ast ,session ,h4 ,r4 #ccab ,report ,no4 #aae-dbc ,,in ,,the ,,house ,,of ,,representatives ,july #ai1 #bjag ,mr4 ,luetkemeyer 7for himself1 ,ms4 ,sinema1 ,mr4 ,williams1 ,mr4 ,david ,scott of ,georgia1 ,mr4 ,hill1 ,mr4 ,gottheimer1 ,mr4 ,budd1 ,mr4 ,stivers1 and ,mr4 ,meeks7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,november #bh1 #bjag ,additional sponsors3 ,mrs4 ,beatty1 ,mr4 ,sessions1 ,mrs4 ,love1 ,ms4 ,sewell of ,alabama1 ,mr4 ,hastings1 ,mr4 ,pearce1 ,mr4 ,peters1 ,mr4 ,loudermilk1 ,mr4 ,posey1 ,mr4 ,meadows1 ,mr4 ,veasey1 ,mrs4 ,murphy of ,florida1 ,mrs4 ,wagner1 ,mr4 ,barr1 ,mr4 ,hultgren1 ,mr4 ,tipton1 ,ms4 ,jackson ,lee1 ,mr4 ,schweikert1 ,mr4 ,gosar1 ,mr4 ,hollingsworth1 ,ms4 ,kelly of ,illinois1 ,mr4 ,curbelo of ,florida1 ,mr4 ,yoho1 ,mr4 ,webster of ,florida1 ,mr4 ,brooks of ,alabama1 ,mr4 ,carter of ,texas1 ,mr4 ,buchanan1 ,ms4 ,blunt ,rochester1 ,mr4 ,bucshon1 ,ms4 ,ros-,lehtinen1 ,mr4 ,mast1 ,mr4 ,smith of ,missouri1 ,mr4 ,ratcliffe1 ,mr4 ,fitzpatrick1 ,mr4 ,higgins of ,new ,york1 ,mr4 ,rutherford1 ,mr4 ,norman1 ,mr4 ,rothfus1 ,mr4 ,ross1 ,mr4 ,marchant1 ,mr4 ,dunn1 ,mr4 ,poe of ,texas1 ,mr4 ,pittenger1 ,mr4 ,graves of ,georgia1 ,mr4 ,schneider1 ,mr4 ,walker1 ,mr4 ,fleischmann1 ,mr4 ,francis ,rooney of ,florida1 ,mr4 ,messer1 ,mr4 ,kustoff of ,tennessee1 ,mr4 ,des,jarlais1 ,mr4 ,king of ,new ,york1 ,mr4 ,sam ,johnson of ,texas1 ,mr4 ,marshall1 ,mr4 ,emmer1 ,mr4 ,cooper1 ,mrs4 ,brooks of ,indiana1 ,ms4 ,jenkins of ,kansas1 ,mr4 ,paulsen1 ,mrs4 ,walorski1 and ,mr4 ,coffman ,november #bh1 #bjag ,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed ,omit the part struck through and insert the part printed in italic ,a ,,bill ,to amend the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act to specify when bank holding companies may be subject to certain enhanced supervision1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,systemic ,risk ,designation ,improvement ,act of #bjag4 #b4 ,revisions to ,council authority 7a7 ,purposes and duties ,section #aab of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecbb7 is amended in subsection 7a77#b77;,i7 by inserting before the semicolon 1 which have been identified as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe4 7b7 ,enhanced supervision ,section #aae of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecbe7 is amended-- 7#a7 in subsection 7a77#a71 by striking large1 interconnected bank holding companies and inserting bank holding companies which have been identified as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe2 and 7#b7 in subsection 7a77#b7-- 7,a7 in subparagraph 7,a71 by striking 2 or at the end and inserting a period2 7,b7 by striking the ,council may and all that follows through differentiate and inserting the ,council may differentiate2 and 7,c7 by striking subparagraph 7,b74 7c7 ,reports ,section #aaf7;a7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecbf7;a77 is amended by striking with total consolidated assets of #ej1jjj1jjj1jjj or greater and inserting which has been identified as a global systemically important bank holding company pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe4 7d7 ,mitigation ,section #aba7;a7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecca7 is amended by striking with total consolidated assets of #ej1jjj1jjj1jjj or more and inserting which has been identified as a global systemically important bank holding company pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe4 7e7 ,office of financial research ,section #aee of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecde7 is amended in subsection 7d7 by striking with total consolidated assets of #ej1jjj1jjj1jjj or greater and inserting which have been identified as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe4 #c4 ,revisions to ,board authority 7a7 ,acquisitions ,section #afc of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecfc7 is amended by striking with total consolidated assets equal to or greater than #ej1jjj1jjj1jjj each place such term appears and inserting which has been identified as a global systemically important bank holding company pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe4 7b7 ,management interlocks ,section #afd of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecfd7 is amended by striking with total consolidated assets equal to or greater than #ej1jjj1jjj1jjj and inserting which has been identified as a global systemically important bank holding company pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe4 7c7 ,enhanced supervision and prudential standards ,section #afe of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecfe7 is amended-- 7#a7 in subsection 7a71 by striking with total consolidated assets equal to or greater than #ej1jjj1jjj1jjj and inserting which have been identified as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l72 7#b7 in subsection 7a77#b7-- 7,a7 by striking 7,a7 ,in general4--2 7,b7 in subparagraph 7,a71 by striking may and inserting shall2 and 7,c7 by striking subparagraph 7,b72 7#c7 in subsection 7j71 by striking with total consolidated assets equal to or greater than #ej1jjj1jjj1jjj and inserting which has been identified as a global systemically important bank holding company pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l74 7d7 ,advanced tailoring ,section #afe of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecfe7 is amended by adding at the end the following3 7l7 ,additional bank holding companies subject to enhanced supervision and prudential standards by tailored regulation 7#a7 ,determination ,the ,board of ,governors may1 within the limits of its existing resources-- 7,a7 determine that a bank holding company that has not been identified as a global systemically important bank holding company pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 shall be subject to certain enhanced supervision or prudential standards under this section1 tailored to the risks presented1 based on the considerations in paragraph 7#c71 where material financial distress at the bank holding company1 or the nature1 scope1 size1 scale1 concentration1 interconnectedness1 or mix of the activities of the individual bank holding company1 could pose a threat to the financial stability of the ,united ,states2 or 7,b7 by regulation determine that a category of bank holding companies that have not been identified as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 shall be subject to certain enhanced supervision or prudential standards under this section1 tailored to the risk presented by the category of bank holding companies1 based on the considerations in paragraph 7#c71 where material financial distress at the category of bank holding companies1 or the nature1 scope1 size1 scale1 concentration1 interconnectedness1 or mix of the activities of the category of bank holding companies1 could pose a threat to the financial stability of the ,united ,states4 7#b7 ,council approval of regulations with respect to categories ,notwithstanding paragraph 7#a77;,b71 a regulation issued by the ,board of ,governors to make a determination under such paragraph 7#a77;,b7 shall not take effect unless the ,council1 by a vote of not fewer than #b_/c of the voting members then serving1 including an affirmative vote by the ,chairperson1 approves the metrics used by the ,board of ,governors in establishing such regulation4 7#c7 ,considerations ,in making any determination under paragraph 7#a71 the ,board of ,governors shall consider the following factors3 7,a7 ,the size of the bank holding company4 7,b7 ,the interconnectedness of the bank holding company4 7,c7 ,the extent of readily available substitutes or financial institution infrastructure for the services of the bank holding company4 7,d7 ,the global cross-jurisdictional activity of the bank holding company4 7,e7 ,the complexity of the bank holding company4 7#d7 ,consistent application of considerations ,in making a determination under paragraph 7#a71 the ,board of ,governors shall ensure that bank holding companies that are similarly situated with respect to the factors described under paragraph 7#c71 are treated similarly for purposes of any enhanced supervision or prudential standards applied under this section4 7#e7 ,use of currently reported data to avoid unnecessary burden ,for purposes of making a determination under paragraph 7#a71 the ,board of ,governors shall make use of data already being reported to the ,board of ,governors1 including from calculating a bank holding company's systemic indicator score1 in order to avoid placing an unnecessary burden on bank holding companies4 4 7e7 ,systemic identification ,section #afe of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecfe71 as amended by subsection 7d71 is further amended by adding at the end the following3 7m7 ,systemic identification ,with respect to the identification of bank holding companies as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l71 the ,board of ,governors shall-- 7#a7 publish1 including on the ,board of ,governors's website1 a list of all bank holding companies that have been so identified1 and keep such list current2 and 7#b7 solicit feedback from the ,council on the identification process and on the application of such process to specific bank holding companies4 4 7f7 ,conforming ,amendment ,the second subsection 7s7 7relating to ,assessments1 ,fees1 and ,other ,charges for ,certain ,companies7 of section #aa of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bdh7 is amended-- 7#a7 by redesignating such subsection as subsection 7t72 and 7#b7 in paragraph 7#b77;,a71 by striking having total consolidated assets of #ej1jjj1jjj1jjj or more and inserting which have been identified as global systemically important bank holding companies pursuant to section #bag4djb of title #ab1 ,code of ,federal ,regulations1 or subjected to a determination under subsection 7l7 of section #afe of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act4 #d4 ,rule of construction ,nothing in this ,act or the amendments made by this ,act shall be construed to prohibit the ,board of ,governors of the ,federal ,reserve ,system from prescribing enhanced prudential standards for any bank holding company which the ,board of ,governors determines1 based upon the bank holding company's size1 interconnectedness1 substitutability1 global cross-jurisdictional activity1 and complexity1 could pose a safety and soundness risk to the stability of the ,united ,states banking or financial system but has not been designated as a global systemically important bank holding company4 #e4 ,effective date ,the amendments made by this ,act shall take effect after the end of the #a-year #ah-month period following the date of the enactment of this ,act4 ,november #bh1 #bjag ,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed