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S 3005 111th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Executive agency funding and structure Financial services and investments Government information and archives Securities

National Institute of Finance Act of 2010

Introduced: February 4, 2010 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 4, 2010
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S497-500)
Feb 4, 2010
Sponsor introductory remarks on measure. (CR S496)
Feb 4, 2010
Introduced in Senate
 Plain-English summary Congressional Research Service

National Institute of Finance Act of 2010 - Establishes an independent National Institute of Finance (NIF) to support the federal financial regulatory agencies, including any systemic risk council or agency established by Congress, by: (1) collecting and providing data; (2) standardizing the types and formats of data reported and collected; (3) performing applied research and essential long-term research; (4) developing tools for risk measurement and monitoring; and (5) making the results of its activities available to financial regulatory agencies.

Requires the NIF Director to be appointed by the President, by and with the advice and consent of the Senate, and the NIF to be funded through assessments on the financial entities required to report data to it.

States that the Institute shall implement its programmatic responsibilities through: (1) the Federal Financial Data Center; and (2) the Federal Financial Research and Analysis Center.

What's happening now February 4, 2010

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S497-500)

 Committees of jurisdiction 1