,,ii  #aaeth ,,congress  #ast ,session  
,s4 #hbh  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,april #e           
7legislative day1 ,april #d71 #bjag,mr4 
,rounds 7for himself1 ,mr4 ,warner1 ,mr4
 ,tester1 ,mr4 ,scott1 ,mr4 ,donnelly1  
,ms4 ,heitkamp1 ,mr4 ,cotton1 ,mr4      
,tillis1 ,mr4 ,van ,hollen1 ,mr4        
,kennedy1 and ,mr4 ,schumer7 introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,banking1 ,housing1 and ,urban ,affairs 
,a ,,bill  ,to amend the ,federal       
,deposit ,insurance ,act to require the 
appropriate ,federal banking agencies to
 treat certain municipal obligations as 
level #b;,b liquid assets1 and for other
 purposes4  #a4 ,treatment of certain   
municipal obligations  7a7 ,in general  
,section #ah of the ,federal ,deposit   
,insurance ,act 7#ab ,u4,s4,c4 #ahbh7 is
 amended-- 7#a7 by moving subsection 7z7
 so that it appears after subsection    
7y72 and  7#b7 by adding at the end the 
following3  7aa7 ,treatment of certain  

municipal obligations  7#a7 ,definitions
 ,in this subsection--  7,a7 the term   
investment grade1 with respect to an    
obligation1 has the meaning given the   
term in section #a4b of title #ab1 ,code
 of ,federal ,regulations1 or any       
successor thereto2  7,b7 the term liquid
 and readily-marketable has the meaning 
given the term in section #bdi4c of     
title #ab1 ,code of ,federal            
,regulations1 or any successor thereto2 
and  7,c7 the term municipal obligation 
means an obligation of-- 7i7 a ,state or
 any political subdivision thereof2 or  
7ii7 any agency or instrumentality of a 
,state or any political subdivision     
thereof4  7#b7 ,municipal obligations   
,for purposes of the final rule entitled
 ,liquidity ,coverage ,ratio3 ,liquidity
 ,risk ,measurement ,standards 7#gi     
,fed4 ,reg4 #fadci 7,october #aj1       
#bjad771 the final rule entitled        
,liquidity ,coverage ,ratio3 ,treatment 
of ,u4,s4 ,municipal ,securities as     
,high-,quality ,liquid ,assets 7#ha     

,fed4 ,reg4 #babbc 7,april #aa1 #bjaf771
 and any other regulation that          
incorporates a definition of the term   
high-quality liquid asset or another    
substantially similar term1 the         
appropriate ,federal banking agencies   
shall treat a municipal obligation as a 
high-quality liquid asset that is a     
level #b;,b liquid asset if that        
obligation is1 as of the date of        
calculation--  7,a7 liquid and          
readily-marketable2 and  7,b7 investment
 grade4  4  7b7 ,amendment to liquidity 
coverage ratio regulations ,not later   
than #ij days after the date of         
enactment of this ,act1 the ,federal    
,deposit ,insurance ,corporation1 the   
,board of ,governors of the ,federal    
,reserve ,system1 and the ,comptroller  
of the ,currency shall amend the final  
rule entitled ,liquidity ,coverage      
,ratio3 ,liquidity ,risk ,measurement   
,standards 7#gi ,fed4 ,reg4 #fadci      
7,october #aj1 #bjad77 and the final    
rule entitled ,liquidity ,coverage      

,ratio3 ,treatment of ,u4,s4 ,municipal 
,securities as ,high-,quality ,liquid   
,assets 7#ha ,fed4 ,reg4 #babbc 7,april 
#aa1 #bjaf77 to implement the amendments
 made by this ,act4