Volcker Rule Regulatory Harmonization Act
USA115th CongressHR-4790| House
| Updated: 4/16/2018
J. French Hill
Republican Representative
Arkansas
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Volcker Rule Regulatory Harmonization Act (Sec. 2) This bill amends the Bank Holding Company Act of 1956 to grant exclusive rulemaking authority under the Volcker Rule to the Federal Reserve Board. (Currently, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission also have regulatory authority under the Volcker Rule. The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.) (Sec. 4) The bill exempts from the Volcker Rule banks with total assets: (1) of $10 billion or less, and (2) comprised of 5% or less of trading assets and liabilities.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 474.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
Rules Committee Resolution H. Res. 811 Reported to House. Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
Rule H. Res. 811 passed House.
Considered under the provisions of rule H. Res. 811. (consideration: CR H3214-3223)
Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
DEBATE - The House proceeded with one hour of debate on H.R. 4790.
The previous question was ordered pursuant to the rule.
On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139). (text: CR H3214-3215)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationFederal Reserve SystemFinancial services and investmentsSecurities
Volcker Rule Regulatory Harmonization Act
USA115th CongressHR-4790| House
| Updated: 4/16/2018
Volcker Rule Regulatory Harmonization Act (Sec. 2) This bill amends the Bank Holding Company Act of 1956 to grant exclusive rulemaking authority under the Volcker Rule to the Federal Reserve Board. (Currently, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission also have regulatory authority under the Volcker Rule. The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.) (Sec. 4) The bill exempts from the Volcker Rule banks with total assets: (1) of $10 billion or less, and (2) comprised of 5% or less of trading assets and liabilities.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 474.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
Rules Committee Resolution H. Res. 811 Reported to House. Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
Rule H. Res. 811 passed House.
Considered under the provisions of rule H. Res. 811. (consideration: CR H3214-3223)
Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
DEBATE - The House proceeded with one hour of debate on H.R. 4790.
The previous question was ordered pursuant to the rule.
On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139). (text: CR H3214-3215)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
J. French Hill
Republican Representative
Arkansas
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
- HR 115-5659: To amend the Bank Holding Company Act of 1956 to provide relief from the Volcker Rule for community banks.
- HR 115-6147: Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019
- HRES 115-811: Providing for consideration of the bill (H.R. 4790) to amend the Volcker rule to give the Board of Governors of the Federal Reserve System sole rulemaking authority, to exclude community banks from the requirements of the Volcker rule, and for other purposes, and providing for consideration of motions to suspend the rules.
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationFederal Reserve SystemFinancial services and investmentsSecurities