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Code · BILL · 113th Congress · H.R. 2767 (Introduced in House) — To protect American taxpayers and homeowners by creating a sustainable housing finance system for the 21st century. · Sec. 402

Sec. 402. Basel III Liquidity Coverage Ratio amendments

94 words·~1 min read·/bill/113/hr/2767/ih/section-402

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In implementing the Basel III Liquidity Coverage Ratio amendments, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency may not require, as a condition for status as a high quality liquid asset, that residential mortgage-backed securities be collateralized only by (or be collateralized by a certain percentage of) full recourse mortgage loans. The term Basel III Liquidity Coverage Ratio amendments means the amendments to the Liquidity Coverage Ratio endorsed by the Basel Committee on Banking Supervision on January 6, 2013.
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