[House Report 115-595]
[From the U.S. Government Publishing Office]
115th Congress } { Report
HOUSE OF REPRESENTATIVES
2d Session } { 115-595
======================================================================
PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 4545) TO AMEND THE
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL ACT OF 1978 TO
IMPROVE THE EXAMINATION OF DEPOSITORY INSTITUTIONS, AND FOR OTHER
PURPOSES; PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 1116) TO
REQUIRE THE FEDERAL FINANCIAL INSTITUTIONS REGULATORY AGENCIES TO TAKE
RISK PROFILES AND BUSINESS MODELS OF INSTITUTIONS INTO ACCOUNT WHEN
TAKING REGULATORY ACTIONS, AND FOR OTHER PURPOSES; AND PROVIDING FOR
CONSIDERATION OF THE BILL (H.R. 4263) TO AMEND THE SECURITIES ACT OF
1933 WITH RESPECT TO SMALL COMPANY CAPITAL FORMATION, AND FOR OTHER
PURPOSES
_______
March 13, 2018.--Referred to the House Calendar and ordered to be
printed
_______
Mr. Buck, from the Committee on Rules,
submitted the following
R E P O R T
[To accompany H. Res. 773]
The Committee on Rules, having had under consideration
House Resolution 773, by a nonrecord vote, report the same to
the House with the recommendation that the resolution be
adopted.
SUMMARY OF PROVISIONS OF THE RESOLUTION
The resolution provides for consideration of H.R. 4545, the
Financial Institutions Examination Fairness and Reform Act,
under a structured rule. The resolution provides one hour of
debate equally divided and controlled by the chair and ranking
minority member of the Committee on Financial Services. The
resolution waives all points of order against consideration of
the bill. The resolution provides that the amendment printed in
part A of this report shall be considered as adopted and the
bill, as amended, shall be considered as read. The resolution
waives all points of order against provisions in the bill, as
amended. The resolution makes in order only the further
amendment printed in part B of the this report, if offered by
the Member designated in this report, which shall be considered
as read, shall be debatable for the time specified in this
report equally divided and controlled by the proponent and an
opponent, shall not be subject to amendment, and shall not be
subject to a demand for division of the question. The
resolution waives all points of order against the amendment
printed in this report. The resolution provides one motion to
recommit with or without instructions.
Section 2 of the resolution provides for consideration of
H.R. 1116, the TAILOR Act of 2017, under a closed rule. The
resolution provides one hour of debate equally divided and
controlled by the chair and ranking minority member of the
Committee on Financial Services. The rule waives all points of
order against consideration of the bill. The resolution
provides that the amendment printed in part B of this report
shall be considered as adopted and the bill, as amended shall
be considered as read. The resolution waives all points of
order against provisions in the bill, as amended. The
resolution provides for one motion to recommit with or without
instructions.
Section 3 of the resolution provides consideration of H.R.
4263, the Regulation A+ Improvement Act of 2017, under a closed
rule. The resolution provides one hour of debate equally
divided and controlled by the chair and ranking minority member
of the Committee on Financial Services. The rule waives all
points of order against consideration of the bill. The
resolution provides that the amendment printed in part D of
this report shall be considered as adopted and the bill, as
amended shall be considered as read. The resolution waives all
points of order against consideration of the bill, as amended.
The resolution provides one motion to recommit with or without
instructions.
EXPLANATION OF WAIVERS
The waiver of all points of order against consideration of
H.R. 4545 includes a waiver of the following:
Section 302(f) of the Congressional Budget
Act, which prohibits consideration of legislation
providing new budget authority in excess of a 302(a)
allocation of such authority;
Section 303 of the Congressional Budget Act,
which prohibits consideration of legislation, providing
a change in revenues for a fiscal year until the budget
resolution for that year has been agreed to;
Section 311 of the Congressional Budget Act,
which prohibits consideration of legislation that would
cause the level of total new budget authority for the
first fiscal year to be exceeded; and
Clause 10 of rule XXI, which prohibits the
consideration of a bill if it has the net effect of
increasing mandatory spending over the five-year or
ten-year period.
Although the resolution waives all points of order against
provisions in H.R. 4545, as amended, the Committee is not aware
of any points of order. The waiver is prophylactic in nature.
Although the resolution waives all points of order against
the amendment to H.R. 4545 printed in part B of this report,
the Committee is not aware of any points of order. The waiver
is prophylactic in nature.
The waiver of all points of order against consideration of
H.R. 1116 includes a waiver of the following:
Section 302(f) of the Congressional Budget
Act, which prohibits consideration of legislation
providing new budget authority in excess of a 302(a)
allocation of such authority;
Section 311 of the Congressional Budget Act,
which prohibits consideration of legislation that would
cause the level of total new budget authority for the
first fiscal year to be exceeded, or would cause
revenues to be less than the level of total revenues
for the first fiscal year or for the total of that
first fiscal year and the ensuing fiscal years for
which allocations are provided; and
Clause 10 of rule XXI, which prohibits the
consideration of a bill if it has the net effect of
increasing mandatory spending over the five-year or
ten-year period.
Although the resolution waives all points of order against
provisions in H.R. 1116, as amended, the Committee is not aware
of any points of order. The waiver is prophylactic in nature.
Although the resolution waives all points of order against
consideration of H.R. 4263, the Committee is not aware of any
points of order. The waiver is prophylactic in nature.
Although the resolution waives all points of order against
provisions in H.R. 4263 as amended, the Committee is not aware
of any points of order. The waiver is prophylactic in nature.
SUMMARY OF THE AMENDMENT TO H.R. 4545 IN PART A CONSIDERED AS ADOPTED
1. Tipton (CO): Reduces the Federal Reserve Banks Surplus
Fund.
SUMMARY OF THE AMENDMENT TO H.R. 4545 IN PART B MADE IN ORDER
1. Waters (CA): Narrows the applicability of the bill's
additional appeal process from applying to all financial
institutions regardless of their size, including megabanks and
payday lenders, to only small, community banks and credit
unions with less than $10 billion in assets. (10 minutes)
SUMMARY OF THE AMENDMENT TO H.R. 1116 IN PART C CONSIDERED AS ADOPTED
1. Tipton (CO): Reduces the Federal Reserve Banks Surplus
Fund.
SUMMARY OF THE AMENDMENT TO H.R. 4263 IN PART D CONSIDERED AS ADOPTED
1. MacArthur (NJ): Corrects drafting error in bill short
title.
PART A--TEXT OF AMENDMENT TO H.R. 4545 CONSIDERED AS ADOPTED
Add at the end the following:
SEC. 7. REDUCTION OF SURPLUS FUNDS OF FEDERAL RESERVE BANKS.
(a) In General.--Section 7(a)(3)(A) of the Federal Reserve
Act (12 U.S.C. 289(a)(3)(A)) is amended by striking
``$7,500,000,000'' and inserting ``$7,324,285,000''.
(b) Effective Date.--Subsection (a) shall take effect on June
1, 2018.
PART B--TEXT OF AMENDMENT TO H.R. 4545 MADE IN ORDER
1. An Amendment To Be Offered by Representative Waters of California or
Her Designee, Debatable for 10 Minutes
Amend section 2 to read as follows:
SEC. 2. AMENDMENT TO DEFINITIONS.
Section 1003 of the Federal Financial Institutions
Examination Council Act of 1978 (12 U.S.C. 3302) is amended--
(1) by redesignating paragraphs (2) and (3) as
paragraphs (3) and (4), respectively; and
(2) by inserting after paragraph (2) the following
``(2) the term `community financial institution'
means a financial institution with total consolidated
assets of $10,000,000,000 or less;''.
Strike ``financial institution'' each place such term appears
and insert ``community financial institution''.
Page 6, line 5, strike ``financial institutions'' and insert
``community financial institutions''.
Page 6, line 12, strike ``financial institutions'' and insert
``community financial institutions''.
Page 8, line 3, strike ``financial institutions'' and insert
``community financial institutions''.
Page 9, line 14, strike ``financial institution's'' and
insert ``community financial institution's''.
Page 12, beginning on line 4, strike ``financial
institutions'' and insert ``community financial institutions''.
Page 12, line 6, strike ``financial institutions'' and insert
``community financial institutions''.
Page 15, beginning on line 21, strike ``-- (A)''.
Page 16, line 2, insert a period and a quotation mark before
the semicolon.
Page 16, strike lines 3 through 5.
PART C--TEXT OF AMENDMENT TO H.R. 1116 CONSIDERED AS ADOPTED
Add at the end the following:
SEC. 3. REDUCTION OF SURPLUS FUNDS OF FEDERAL RESERVE BANKS.
(a) In General.--Section 7(a)(3)(A) of the Federal Reserve
Act (12 U.S.C. 289(a)(3)(A)) is amended by striking
``$7,500,000,000'' and inserting ``$7,385,714,000''.
(b) Effective Date.--Subsection (a) shall take effect on June
1, 2018.
PART D--TEXT OF AMENDMENT TO H.R. 4263 CONSIDERED AS ADOPTED
Amend section 1 to read as follows:
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Regulation A+ Improvement Act
of 2017''.
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