United States Financial Policy Committee For Fair Capital Standards Act
Latest action · Mar 10, 2005 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 10, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
United States Financial Policy Committee For Fair Capital Standards Act - Establishes the United States Financial Policy Committee as an inter-agency committee composed of: (1) the Secretary of the Treasury, who shall serve as the Chairperson of the Committee; (2) the Chairman of the Board of Governors of the Federal Reserve System; (3) the Comptroller of the Currency; (4) the Chairperson of the Federal Deposit Insurance Corporation; and (5) the Director of the Office of Thrift Supervision.
Directs the Committee to develop uniform U.S. positions on proposals made to, and issues before, the Basel Committee on Banking Supervision that, if implemented, may directly or indirectly affect United States financial institutions.
Requires the Committee to meet before any meeting of the Basel Committee that is related to, or is expected to involve, a discussion of capital standards.
Prohibits a member Federal banking agency from agreeing to any proposed recommendation of the Basel Committee before the agency reports on it to Congress.
Requires the Federal member banking agencies to employ prescribed criteria in their evaluation of the impact of any revised Basel capital accord.
Amends the International Lending Supervision Act of 1983 to add the Director of the Office of Thrift Supervision as one of the four Federal bank regulatory and supervisory agencies on the Committee on Banking Regulations and Supervisory Practices of the Group of Ten Countries and Switzerland.
Cosponsors 39
Members who signed on, in the order they did. Signatures ran from Mar 10, 2005 to Sep 6, 2006; 24 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MA | Barney Frank | Original | Mar 10, 2005 |
| D-NY | Carolyn B. Maloney | Original | Mar 10, 2005 |
| R-OH | Deborah Pryce | Original | Mar 10, 2005 |
| R-IL | Donald A. Manzullo | Original | Mar 10, 2005 |
| R-FL | Ginny Brown-Waite | Original | Mar 10, 2005 |
| D-TN | Harold E. Ford Jr. | Original | Mar 10, 2005 |
| R-IA | James A. Leach | Original | Mar 10, 2005 |
| R-PA | Jim Gerlach | Original | Mar 10, 2005 |
| R-KS | Jim Ryun | Original | Mar 10, 2005 |
| D-NY | Joseph Crowley | Original | Mar 10, 2005 |
| R-IL | Judy Biggert | Original | Mar 10, 2005 |
| D-IL | Luis V. Gutierrez | Original | Mar 10, 2005 |
| D-MA | Michael E. Capuano | Original | Mar 10, 2005 |
| R-PA | Michael G. Fitzpatrick | Original | Mar 10, 2005 |
| R-OH | Michael G. Oxley | Original | Mar 10, 2005 |
| R-DE | Michael N. Castle | Original | Mar 10, 2005 |
| D-NY | Nydia M. Velázquez | Original | Mar 10, 2005 |
| R-OH | Paul E. Gillmor | Original | Mar 10, 2005 |
| D-PA | Paul E. Kanjorski | Original | Mar 10, 2005 |
| R-TX | Randy Neugebauer | Original | Mar 10, 2005 |
| R-LA | Richard H. Baker | Original | Mar 10, 2005 |
| R-TX | Ron Paul | Original | Mar 10, 2005 |
| R-NC | Walter B. Jones | Original | Mar 10, 2005 |
| D-MO | Wm. Lacy Clay | Original | Mar 10, 2005 |
| D-NY | Carolyn McCarthy | Mar 14, 2005 | |
| R-TX | Pete Sessions | Mar 14, 2005 | |
| D-OR | Darlene Hooley | Mar 15, 2005 | |
| D-AL | Artur Davis | Mar 16, 2005 | |
| R-CT | Christopher Shays | Apr 19, 2005 | |
| R-OH | Steven C. LaTourette | Apr 19, 2005 | |
| D-MO | Emanuel Cleaver | Apr 20, 2005 | |
| R-NY | Peter T. King | Apr 20, 2005 | |
| R-NY | Vito Fossella | Apr 25, 2005 | |
| R-CA | Edward R. Royce | Apr 26, 2005 | |
| R-OH | Robert W. Ney | May 3, 2005 | |
| R-FL | Tom Feeney | May 3, 2005 | |
| R-MN | Mark R. Kennedy | May 10, 2005 | |
| R-NC | Patrick T. McHenry | Jun 15, 2005 | |
| R-NJ | Scott Garrett | Sep 6, 2006 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Mar 10, 2005 |
Actions 2
Everything that happened, newest first.
- Mar 10, 2005Introduced in House
- Mar 10, 2005Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 109-57 | PRIVATE SECTOR PRIORITIES FOR BASEL REFORM97 pages | Financial Services Committee | Sep 28, 2005 |
| Serial No. 109-27 | BASEL II: CAPITAL CHANGES IN THE U.S. BANKING SYSTEM AND THE RESULTS OF THE IMPACT STUDY237 pages | Financial Services Committee | May 11, 2005 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To establish a mechanism for developing uniform United States positions on issues before the Basel Committee on Banking Supervision at the Bank for International Settlements, to require a review on the most recent recommendation of the Basel Committee for an accord on capital standards, and for other purposes.
- Short Titles as Introduced
- United States Financial Policy Committee For Fair Capital Standards Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Bank capital
- Bank examination
- Commerce
- Competition
- Congress
- Congressional oversight
- Congressional reporting requirements
- Department of the Treasury
- Economic impact statements
- Economics and Public Finance
- Employee training
- Executive reorganization
- Federal Deposit Insurance Corporation
- Federal Reserve System
- Finance and Financial Sector
- Financial institutions
- Foreign banks and banking
- Foreign Trade and International Finance
- Government Operations and Politics
- Housing and Community Development
- International Affairs
- International agencies
- International banking
- Labor and Employment
- Negotiations
- Real estate business
- Treaties
Text 1
Each version as it was printed, newest first.
- Mar 10, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.