Bank Safety Act of 2024
- Last Action
- 11/1/2024
Actions
- 2024-11-01Placed on the Union Calendar, Calendar No. 612.
- 2024-11-01Reported (Amended) by the Committee on Financial Services. H. Rept. 118-725.
- 2024-11-01Reported (Amended) by the Committee on Financial Services. H. Rept. 118-725.
- 2024-04-17Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
- 2024-04-17Committee Consideration and Mark-up Session Held
- 2023-06-20Referred to the House Committee on Financial Services.
- 2023-06-20Introduced in House
- 2023-06-20Introduced in House
CRS Summary
As of 2023-06-20 (00)
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.
Cosponsors (1)
- Sean Casten (D-IL)
Subjects
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
Sourced from Congress.gov (public domain).
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