Sec. 2. Stress test relief for nonbanks
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/bill/115/hr/4566/eh/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365(i) ) is amended— in paragraph (1)(B)— by redesignating clauses
(ii)through
(v)as clauses
(iii)through (vi), respectively; by inserting after clause
(i)the following: may conduct the evaluation required by this subsection utilizing alternatives to the capital adequacy test described in subparagraph (A), as the Board may determine appropriate; ; in clause (iii), as so redesignated, by inserting before the semicolon the following: , provided that such tests of any nonbank financial company— are requested by a majority vote of the Council; are conducted in accordance with the company’s business model, including by utilizing alternatives to the capital adequacy test described in subparagraph (A), as the Board may determine appropriate; and are not already required by the company’s Federal primary financial regulatory agency ; and in clause (vi), as so redesignated, by striking clause
(ii)and inserting clause
(iii); and in paragraph (2)— in subparagraph (A), by striking are regulated by a primary Federal financial regulatory agency and inserting: whose primary financial regulatory agency is a Federal banking agency or the Federal Housing Finance Agency ; in subparagraph (C), by striking Each Federal primary financial regulatory agency and inserting Each Federal banking agency and the Federal Housing Finance Agency ; and by adding at the end the following: The Securities and Exchange Commission and the Commodity Futures Trading Commission may each issue regulations requiring financial companies with respect to which they are the primary financial regulatory agency to conduct periodic analyses of the financial condition, including available liquidity, of such companies under adverse economic conditions. .
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Sec. 2
Stress test relief for nonbanks
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