HR 4206
118th Congress
House
Finance and Financial Sector
Bank accounts, deposits, capital
Banking and financial institutions regulation
Bank Safety Act of 2024
Everywhere this bill has been
6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 1, 2024
Placed on the Union Calendar, Calendar No. 612.
Nov 1, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-725.
Apr 17, 2024
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Apr 17, 2024
Committee Consideration and Mark-up Session Held
Jun 20, 2023
Referred to the House Committee on Financial Services.
Jun 20, 2023
Introduced in House
Plain-English summary
Bank Safety Act of 2023
This bill requires additional bank holding companies and insured depository institutions (i.e., those with over $100 billion in assets) to use certain information when calculating capital for purposes of meeting risk-based capital requirements. Specifically, these calculations must include certain unrealized gains and losses (i.e., accumulated other comprehensive income), except for accumulated net gains and losses on cash flow hedges related to items that are not recognized at fair value. Currently, only very large institutions are required to include this type of income in their capital calculations, while other institutions are allowed to opt out.
What's happening now
Placed on the Union Calendar, Calendar No. 612.
Committees of jurisdiction
1
Cosponsors
1