Legis Daily

SVB Act

USA118th CongressHR-1602| House 
| Updated: 3/14/2023
Katie Porter

Katie Porter

Democratic Representative

California

Cosponsors (68)
Dwight Evans (Democratic)Marcy Kaptur (Democratic)Becca Balint (Democratic)John Garamendi (Democratic)Ruben Gallego (Democratic)Jared Huffman (Democratic)Adam B. Schiff (Democratic)Barbara Lee (Democratic)Raúl M. Grijalva (Democratic)Robert Garcia (Democratic)Mark Pocan (Democratic)David N. Cicilline (Democratic)Patrick Ryan (Democratic)Ilhan Omar (Democratic)Frederica S. Wilson (Democratic)Eric Swalwell (Democratic)Maxwell Frost (Democratic)Debbie Dingell (Democratic)Melanie A. Stansbury (Democratic)Tony Cárdenas (Democratic)Delia C. Ramirez (Democratic)Donald M. Payne (Democratic)John P. Sarbanes (Democratic)Rosa L. DeLauro (Democratic)Greg Casar (Democratic)Jake Auchincloss (Democratic)Ted Lieu (Democratic)Ro Khanna (Democratic)Henry C. "Hank" Johnson (Democratic)Al Green (Democratic)John B. Larson (Democratic)Stephen F. Lynch (Democratic)Jill N. Tokuda (Democratic)Daniel S. Goldman (Democratic)Jerrold Nadler (Democratic)Mark Takano (Democratic)Pramila Jayapal (Democratic)Betty McCollum (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Jamie Raskin (Democratic)Donald S. Beyer (Democratic)Diana DeGette (Democratic)Janice D. Schakowsky (Democratic)James P. McGovern (Democratic)Alexandria Ocasio-Cortez (Democratic)Summer L. Lee (Democratic)Adam Smith (Democratic)William R. Keating (Democratic)Earl Blumenauer (Democratic)Lori Trahan (Democratic)Seth Moulton (Democratic)Suzanne Bonamici (Democratic)Zoe Lofgren (Democratic)Nanette Diaz Barragán (Democratic)Jesús G. "Chuy" García (Democratic)Kevin Mullin (Democratic)Frank Pallone (Democratic)Jimmy Gomez (Democratic)Grace Meng (Democratic)Rashida Tlaib (Democratic)Ayanna Pressley (Democratic)Jamaal Bowman (Democratic)Lloyd Doggett (Democratic)Grace F. Napolitano (Democratic)Mike Levin (Democratic)Cori Bush (Democratic)Judy Chu (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Secure Viable Banking Act or the SVB Act This bill increases the oversight of certain nonbank financial companies and bank holding companies by repealing Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174). (A nonbank financial company is a financial institution without a banking license that may be subject to supervision due to the company's size or risk profile. A bank holding company owns a controlling interest in one or more banks.) Specifically, the bill decreases from $250 billion to $50 billion the asset threshold at which enhanced prudential standards become mandatory, thereby requiring more companies to comply with these standards. These standards include stress testing, leverage limits, liquidity requirements, and resolution plan requirements (i.e., living will requirements). Under current law, the Federal Reserve has the discretion to determine the applicability of these standards to bank holding companies with assets between $100 billion and $250 billion. The bill also expands stress testing by increasing the number of board-run stress test scenarios from two to three; decreasing the asset threshold at which company-run stress tests are required from $250 billion to $10 billion; and requiring company-run stress tests to be performed annually or semiannually, depending on the amount of assets held. The bill also decreases from $50 billion to $10 billion the asset threshold for mandatory risk committees. Finally, the bill revises the supplemental leverage ratio applied to custodial banks and the asset treatment of certain municipal obligations.
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Timeline
Mar 14, 2023
Introduced in House
Mar 14, 2023
Referred to the House Committee on Financial Services.
Mar 15, 2023

Latest Companion Bill Action

S 118-817
Introduced in Senate
  • March 14, 2023
    Introduced in House


  • March 14, 2023
    Referred to the House Committee on Financial Services.


  • March 15, 2023

    Latest Companion Bill Action

    S 118-817
    Introduced in Senate

Finance and Financial Sector

Related Bills

  • HR 118-1596: Stabilizing Vulnerable Banks Act
  • S 118-817: SVB Act

SVB Act

USA118th CongressHR-1602| House 
| Updated: 3/14/2023
Secure Viable Banking Act or the SVB Act This bill increases the oversight of certain nonbank financial companies and bank holding companies by repealing Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174). (A nonbank financial company is a financial institution without a banking license that may be subject to supervision due to the company's size or risk profile. A bank holding company owns a controlling interest in one or more banks.) Specifically, the bill decreases from $250 billion to $50 billion the asset threshold at which enhanced prudential standards become mandatory, thereby requiring more companies to comply with these standards. These standards include stress testing, leverage limits, liquidity requirements, and resolution plan requirements (i.e., living will requirements). Under current law, the Federal Reserve has the discretion to determine the applicability of these standards to bank holding companies with assets between $100 billion and $250 billion. The bill also expands stress testing by increasing the number of board-run stress test scenarios from two to three; decreasing the asset threshold at which company-run stress tests are required from $250 billion to $10 billion; and requiring company-run stress tests to be performed annually or semiannually, depending on the amount of assets held. The bill also decreases from $50 billion to $10 billion the asset threshold for mandatory risk committees. Finally, the bill revises the supplemental leverage ratio applied to custodial banks and the asset treatment of certain municipal obligations.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 14, 2023
Introduced in House
Mar 14, 2023
Referred to the House Committee on Financial Services.
Mar 15, 2023

Latest Companion Bill Action

S 118-817
Introduced in Senate
  • March 14, 2023
    Introduced in House


  • March 14, 2023
    Referred to the House Committee on Financial Services.


  • March 15, 2023

    Latest Companion Bill Action

    S 118-817
    Introduced in Senate
Katie Porter

Katie Porter

Democratic Representative

California

Cosponsors (68)
Dwight Evans (Democratic)Marcy Kaptur (Democratic)Becca Balint (Democratic)John Garamendi (Democratic)Ruben Gallego (Democratic)Jared Huffman (Democratic)Adam B. Schiff (Democratic)Barbara Lee (Democratic)Raúl M. Grijalva (Democratic)Robert Garcia (Democratic)Mark Pocan (Democratic)David N. Cicilline (Democratic)Patrick Ryan (Democratic)Ilhan Omar (Democratic)Frederica S. Wilson (Democratic)Eric Swalwell (Democratic)Maxwell Frost (Democratic)Debbie Dingell (Democratic)Melanie A. Stansbury (Democratic)Tony Cárdenas (Democratic)Delia C. Ramirez (Democratic)Donald M. Payne (Democratic)John P. Sarbanes (Democratic)Rosa L. DeLauro (Democratic)Greg Casar (Democratic)Jake Auchincloss (Democratic)Ted Lieu (Democratic)Ro Khanna (Democratic)Henry C. "Hank" Johnson (Democratic)Al Green (Democratic)John B. Larson (Democratic)Stephen F. Lynch (Democratic)Jill N. Tokuda (Democratic)Daniel S. Goldman (Democratic)Jerrold Nadler (Democratic)Mark Takano (Democratic)Pramila Jayapal (Democratic)Betty McCollum (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Jamie Raskin (Democratic)Donald S. Beyer (Democratic)Diana DeGette (Democratic)Janice D. Schakowsky (Democratic)James P. McGovern (Democratic)Alexandria Ocasio-Cortez (Democratic)Summer L. Lee (Democratic)Adam Smith (Democratic)William R. Keating (Democratic)Earl Blumenauer (Democratic)Lori Trahan (Democratic)Seth Moulton (Democratic)Suzanne Bonamici (Democratic)Zoe Lofgren (Democratic)Nanette Diaz Barragán (Democratic)Jesús G. "Chuy" García (Democratic)Kevin Mullin (Democratic)Frank Pallone (Democratic)Jimmy Gomez (Democratic)Grace Meng (Democratic)Rashida Tlaib (Democratic)Ayanna Pressley (Democratic)Jamaal Bowman (Democratic)Lloyd Doggett (Democratic)Grace F. Napolitano (Democratic)Mike Levin (Democratic)Cori Bush (Democratic)Judy Chu (Democratic)

Financial Services Committee

Finance and Financial Sector

Related Bills

  • HR 118-1596: Stabilizing Vulnerable Banks Act
  • S 118-817: SVB Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted