Restoring Proven Financing for American Employers Act

1/11/2023, 1:27 PM

Restoring Proven Financing for American Employers Act

This bill amends the Bank Holding Company Act of 1956 governing certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule).

It delays until July 21, 2019, the requirement that a banking entity or nonbank financial company supervised by the Board of Governors of the Federal Reserve System bring into compliance with the Volcker Rule its activities related to or investments in any debt securities of collateralized loan obligations issued before January 31, 2014.

Congress
114

Number
HR - 1841

Introduced on
2015-04-16

# Amendments
0

Sponsors
+5

Variations and Revisions

4/16/2015

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Restoring Proven Financing for American Employers Act

This bill amends the Bank Holding Company Act of 1956 governing certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule).

It delays until July 21, 2019, the requirement that a banking entity or nonbank financial company supervised by the Board of Governors of the Federal Reserve System bring into compliance with the Volcker Rule its activities related to or investments in any debt securities of collateralized loan obligations issued before January 31, 2014.

Alternative Names
Official Title as IntroducedTo amend section 13 of the Bank Holding Company Act of 1956, known as the Volcker Rule, to exclude certain debt securities of collateralized loan obligations from the prohibition against acquiring or retaining an ownership interest in a hedge fund or private equity fund.

Policy Areas
Finance and Financial Sector

Potential Impact
Banking and financial institutions regulation
Financial services and investments
Securities

Comments

Recent Activity

Latest Summary5/7/2015

Restoring Proven Financing for American Employers Act

This bill amends the Bank Holding Company Act of 1956 governing certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and pr...


Latest Action4/16/2015
Referred to the House Committee on Financial Services.