S 1912
113th Congress
Senate
Finance and Financial Sector
Banking and financial institutions regulation
Securities
A bill to clarify that certain banking entities are not required to divest from collateralized debt obligations backed by trust preferred securities under the Volcker Rule.
Introduced: January 9, 2014
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 9, 2014
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 9, 2014
Introduced in Senate
Plain-English summary
Amends the Bank Holding Company Act of 1956 regarding prohibitions on proprietary trading and certain relationships with hedge and private equity funds (Volcker Rule).
Prohibits the construction of these prohibitions to require either a banking entity with total consolidated assets of less than $50 billion or a mutual holding company to divest from a collateralized debt obligation issued before May 19, 2010, if: (1) the primary purpose for the obligation was as a vehicle for trust preferred securities, and (2) the investment in the obligation was made on or before December 10, 2013.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1
Cosponsors
1