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.
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.
Motion to reconsider laid on the table Agreed to without objection.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
Placed on the Union Calendar, Calendar No. 474.
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)
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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.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139).(text: CR H3214-3215)
Roll Call #139 (House)On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139). (text: CR H3214-3215)
Roll Call #139 (House)Motion 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.