Basel III Commonsense Approach for Small Entities Act or Basel III CASE Act - Directs the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency, before issuing any final rule in relation to proposals they have issued for the International Basel III agreement on general risk-based capital requirements, to conduct an empirical study that includes: (1) a quantitative analysis of the rule's impact on the U.S. financial services sector, specifically community, mid-size, and regional financial institutions; and (2) a determination of the long-term impact of the rule, including changes to the current risk weight framework.
Permits a financial institution to provide information voluntarily for the study upon agency request, but prohibits agencies from requiring such information.
Requires the study to be made available to the public for notice and comment.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2295 Introduced in House (IH)]
113th CONGRESS
1st Session
H. R. 2295
To require the Board of Governors of the Federal Reserve System, the
Federal Deposit Insurance Corporation, and the Office of the
Comptroller of the Currency to conduct an empirical impact study on
proposed rules relating to the International Basel III agreement on
general risk-based capital requirements, as they apply to smaller
financial institutions.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 6, 2013
Mr. Murphy of Florida introduced the following bill; which was referred
to the Committee on Financial Services
_______________________________________________________________________
A BILL
To require the Board of Governors of the Federal Reserve System, the
Federal Deposit Insurance Corporation, and the Office of the
Comptroller of the Currency to conduct an empirical impact study on
proposed rules relating to the International Basel III agreement on
general risk-based capital requirements, as they apply to smaller
financial institutions.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Basel III Commonsense Approach for
Small Entities Act'' or the ``Basel III CASE Act''.
SEC. 2. FINAL RULES PENDING IMPACT STUDY.
(a) In General.--The Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, and the Office of
the Comptroller of the Currency (in this Act collectively referred to
as the ``Federal banking agencies'') shall conduct an empirical study
in accordance with subsection (b) prior to issuing any final rule in
relation to proposals issued by the Federal banking agencies for the
International Basel III agreement on general risk-based capital
requirements.
(b) Issues To Be Studied.--The study required by this section shall
include--
(1) a quantitative analysis of the impact of such rule on
the financial services sector of the United States,
specifically community, mid-size, and regional financial
institutions; and
(2) a determination of the long-term impact of such rule,
including changes to the current risk weight framework.
SEC. 3. VOLUNTARY PARTICIPATION.
Any financial institution may voluntarily provide information for
the study upon the request of the Federal banking agencies, but may not
be required to provide such information.
SEC. 4. FINAL REPORT.
(a) Availability to the Public.--A final report on the completed
study required by this Act shall be made available to the public for
notice and comment for a period of not less than 3 months.
(b) Review.--The Federal banking agencies shall review any comments
submitted under subsection (a), and following such review, shall
prescribe new rules, if appropriate, based on the results of the study
and such comments. Notwithstanding any other provision of law, a new
rulemaking following such comment period shall include an additional
comment period of not less than 3 months.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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