H. Res. 747: H.R. 4296 - To place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking agency; H.R. 4607 - Comprehensive Regulatory Review Act

COMMITTEE ACTION: REPORTED BY A RECORD VOTE OF 8-3 on Monday, February 26, 2018.

FLOOR ACTION: ADOPTED BY A RECORD VOTE OF 230-177 AFTER ORDERING THE PREVIOUS QUESTION BY A RECORD VOTE OF 227-185 on Tuesday, February 27, 2018.

MANAGERS: McGovern/Buck

115th Congress

2nd Session

Rule

H. RES. 747

Report No. 115-582

 

H.R. 4296 - To place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking agency.

H.R. 4607 - Comprehensive Regulatory Review Act

  1. Closed rule for H.R. 4296.
  2. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  3. Waives all points of order against consideration of the bill.
  4. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-60, modified by the amendment printed in part A of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.
  5. Waives all points of order against provisions in the bill, as amended.
  6. Provides one motion to recommit with or without instructions.
  7. Closed rule for H.R. 4607.
  8. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  9. Waives all points of order against consideration of the bill.
  10. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-61, modified by the amendment printed in part B of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.
  11. Waives all points of order against provisions in the bill, as amended.
  12. Provides one motion to recommit with or without instructions.

 

RESOLUTION

Resolved, That upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 4296) to place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking agency. All points of order against consideration of the bill are waived. In lieu of the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-60, modified by the amendment printed in part A of the report of the Committee on Rules accompanying this resolution, shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further amendment thereto, to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services; and (2) one motion to recommit with or without instructions.

Sec. 2. Upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 4607) to amend the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on covered persons, and for other purposes. All points of order against consideration of the bill are waived. An amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-61, modified by the amendment printed in part B of the report of the Committee on Rules accompanying this resolution, shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further amendment thereto, to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services; and (2) one motion to recommit with or without instructions.

 

SUMMARY OF AMENDMENT TO H.R. 4296 IN PART A PROPOSED TO BE CONSIDERED AS ADOPTED

Sponsor

#

Description

  1. Luetkemeyer (MO)

#1

Removes a total of $31,428,572.00 from the Federal Reserve’s surplus fund to cover the perceived costs associated with this legislation.

 

SUMMARY OF AMENDMENT TO H.R. 4607 IN PART B PROPOSED TO BE CONSIDERED AS ADOPTED

Sponsor

#

Description

  1. Loudermilk (GA)

#1

Reduces the cap on surplus funds of the Federal Reserve Banks from $7,500,000,000 to $7,495,714,285.