Financial Institution Living Will Improvement Act of 2018
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jun 14, 2018)
Financial Institution Living Will Improvement Act of 2018
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.)
The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.
What just happenedJun 14, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateJun 14, 2018
- Jun 14, 2018IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Jun 14, 2018IntroReferral10000
Introduced in Senate