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Bill113th CongressFiled Mar 21, 2013Finance and Financial Sector
H.R. 1341

Financial Competitive Act of 2013

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
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Law

What it doesSummary passed house amended (Jul 8, 2013)

(This measure has not been amended since it was reported to the House on June 28, 2013. The summary of that version is repeated here.)

Financial Competitive Act of 2013 - Directs the Financial Stability Oversight Council (FSOC) to study and report to Congress on the likely effects that differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement would have upon: (1) U.S. financial institutions that conduct derivatives transactions and participate in derivatives markets, (2) end users of derivatives, and (3) international derivatives markets.

Requires the study to recommend steps Congress and the constituent agencies of the FSOC should take to: (1) minimize any expected negative effects on U.S. financial institutions, derivatives markets, and end users; (2) encourage greater international consistency in implementation of internationally agreed capital, liquidity, and other prudential standards; and (3) ensure that the FSOC fulfills its statutory mandate to identify risks and respond to emerging threats to financial stability.

What just happenedJul 9, 2013

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Fincher, Stephen Lee [R-TN-8](R-TN)Sponsor
4 cosponsors1 D3 R
Read on Congress.gov
4cosponsors3committees23actions6subjects
  • Referred in SenateJul 9, 2013
  • Engrossed in HouseJul 8, 2013
  • Reported in HouseJun 28, 2013
  • Introduced in HouseMar 21, 2013
  1. Jul 9, 2013IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  2. Jul 8, 2013FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 8, 2013FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 353 - 24 (Roll no. 305). (text: CR H4181)

  4. Jul 8, 2013Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 353 - 24 (Roll no. 305).(text: CR H4181)

  5. Jul 8, 2013FloorH30000

    Considered as unfinished business. (consideration: CR H4186)

  6. Jul 8, 2013FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  7. Jul 8, 2013FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 1341.

  8. Jul 8, 2013FloorH30000

    Considered under suspension of the rules. (consideration: CR H4181-4182)

  9. Jul 8, 2013FloorH30300

    Mr. Fincher moved to suspend the rules and pass the bill, as amended.

  10. Jun 28, 2013CalendarsH12410

    Placed on the Union Calendar, Calendar No. 96.

  11. Jun 28, 2013DischargeH12300

    Committee on Agriculture discharged.

  12. Jun 28, 2013Committee5500

    Committee on Agriculture discharged.

  13. Jun 28, 2013CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 113-134, Part I.

  14. Jun 28, 2013Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 113-134, Part I.

  15. May 7, 2013Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 0.

  16. May 7, 2013Committee

    Committee Consideration and Mark-up Session Held.

  17. Apr 23, 2013Committee

    Referred to the Subcommittee on General Farm Commodities and Risk Management.

  18. Apr 11, 2013Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

  19. Mar 21, 2013IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  20. Mar 21, 2013IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  21. Mar 21, 2013IntroReferralB00100

    Sponsor introductory remarks on measure. (CR E356-357)

  22. Mar 21, 2013IntroReferralIntro-H

    Introduced in House

  23. Mar 21, 2013IntroReferral1000

    Introduced in House

Passed House amendedJul 8, 201336

(This measure has not been amended since it was reported to the House on June 28, 2013. The summary of that version is repeated here.)

Financial Competitive Act of 2013 - Directs the Financial Stability Oversight Council (FSOC) to study and report to Congress on the likely effects that differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement would have upon: (1) U.S. financial institutions that conduct derivatives transactions and participate in derivatives markets, (2) end users of derivatives, and (3) international derivatives markets.

Requires the study to recommend steps Congress and the constituent agencies of the FSOC should take to: (1) minimize any expected negative effects on U.S. financial institutions, derivatives markets, and end users; (2) encourage greater international consistency in implementation of internationally agreed capital, liquidity, and other prudential standards; and (3) ensure that the FSOC fulfills its statutory mandate to identify risks and respond to emerging threats to financial stability.

Reported to House amended, Part IJun 28, 201318

Financial Competitive Act of 2013 - Directs the Financial Stability Oversight Council (FSOC) to study and report to Congress on the likely effects that differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement would have upon: (1) U.S. financial institutions that conduct derivatives transactions and participate in derivatives markets, (2) end users of derivatives, and (3) international derivatives markets.

Requires the study to recommend steps Congress and the constituent agencies of the FSOC should take to: (1) minimize any expected negative effects on U.S. financial institutions, derivatives markets, and end users; (2) encourage greater international consistency in implementation of internationally agreed capital, liquidity, and other prudential standards; and (3) ensure that the FSOC fulfills its statutory mandate to identify risks and respond to emerging threats to financial stability.

Introduced in HouseMar 21, 2013

Financial Competitive Act of 2013 - Directs the Financial Stability Oversight Council to study and report to Congress on the likely effects that differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement would have on: (1) U.S. financial institutions that conduct derivatives transactions and participate in derivatives markets, (2) end users of derivatives, and (3) international derivatives markets.

Requires the study to recommend steps Congress and the contituent agencies of the Council should take to: (1) minimize any expected negative effects on U.S. financial institutions, derivatives markets, and end users; and (2) encourage greater international consistency in implementation of internationally agreed capital, liquidity, and other prudential standards.

Financial Competitive Act of 2013 — Informed