To place a 6-month moratorium on the authority of the Financial Stability Oversight Council to make financial stability determinations.

Establishes a six-month moratorium during which the Financial Stability Oversight Council is prohibited from making a determination under the Financial Stability Act of 2010 that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System and be subject to prudential standards, if the Council determines that material financial distress at the company (or its nature, scope, size, scale, concentration, interconnectedness, or mix of activities) could pose a threat to the financial stability of the United States.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4881 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4881

    To place a 6-month moratorium on the authority of the Financial 
Stability Oversight Council to make financial stability determinations.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 17, 2014

 Mr. Neugebauer (for himself, Mr. Ross, Mr. Pittenger, Mr. Bachus, Mr. 
  Stivers, and Mrs. Wagner) introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To place a 6-month moratorium on the authority of the Financial 
Stability Oversight Council to make financial stability determinations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. MORATORIUM.

    Before the end of the 6-month period beginning on the date of the 
enactment of this Act, the Financial Stability Oversight Council may 
not make a determination under section 113 of the Financial Stability 
Act of 2010 (12 U.S.C. 5323) that a nonbank financial company (as 
defined under section 102 of such Act) shall be supervised by the Board 
of Governors of the Federal Reserve System and subject to prudential 
standards.
                                 <all>