S 2270 113th Congress Senate Finance and Financial Sector Accounting and auditing Banking and financial institutions regulation Foreign and international corporations Insurance industry and regulation

Insurance Capital Standards Clarification Act of 2014

Introduced: April 29, 2014 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov

Everywhere this bill has been 20 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 18, 2014

Became Public Law No: 113-279.

Dec 18, 2014

Signed by President.

Dec 12, 2014

Presented to President.

Dec 10, 2014

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

Dec 10, 2014

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

Dec 10, 2014

Passed/agreed to in House: On passage Passed without objection.(text: CR H9019-9020)

Dec 10, 2014

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

Dec 10, 2014

Committee on Financial Services discharged.

Dec 10, 2014

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

Sep 16, 2014

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

Jun 5, 2014

Referred to the House Committee on Financial Services.

Jun 5, 2014

Received in the House.

Jun 4, 2014

Message on Senate action sent to the House.

Jun 3, 2014

Passed Senate with an amendment by Unanimous Consent.

Jun 3, 2014

Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.

Jun 3, 2014

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

Jun 3, 2014

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

Apr 29, 2014

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

Apr 29, 2014

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

Apr 29, 2014

Introduced in Senate

Plain-English summary Congressional Research Service

(This measure has not been amended since it was passed by the Senate on June 3, 2014. The summary of that version is repeated here.)

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.

What's happening now December 18, 2014

Became Public Law No: 113-279.

Committees of jurisdiction 2