SVB Act

Secure Viable Banking Act or the SVB Act

This bill increases the oversight of certain nonbank financial companies and bank holding companies by repealing Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174). (A nonbank financial company is a financial institution without a banking license that may be subject to supervision due to the company's size or risk profile. A bank holding company owns a controlling interest in one or more banks.)

Specifically, the bill decreases from $250 billion to $50 billion the asset threshold at which enhanced prudential standards become mandatory, thereby requiring more companies to comply with these standards. These standards include stress testing, leverage limits, liquidity requirements, and resolution plan requirements (i.e., living will requirements). Under current law, the Federal Reserve has the discretion to determine the applicability of these standards to bank holding companies with assets between $100 billion and $250 billion.

The bill also expands stress testing by

• increasing the number of board-run stress test scenarios from two to three;
• decreasing the asset threshold at which company-run stress tests are required from $250 billion to $10 billion; and
• requiring company-run stress tests to be performed annually or semiannually, depending on the amount of assets held.

The bill also decreases from $50 billion to $10 billion the asset threshold for mandatory risk committees.

Finally, the bill revises the supplemental leverage ratio applied to custodial banks and the asset treatment of certain municipal obligations.

Bill 118 HR 1602, also known as the SVB Act, is a piece of legislation currently being considered by the US Congress. The SVB Act aims to provide additional support and benefits to survivors of veterans who have passed away.

The bill proposes to increase the amount of Special Survivor Indemnity Allowance (SSIA) payments to surviving spouses of deceased veterans. Currently, the SSIA provides financial assistance to surviving spouses of veterans who passed away from a service-connected disability. The SVB Act seeks to raise the SSIA payments to help these individuals better cope with the financial burden of losing their loved ones.

Additionally, the bill includes provisions to extend the eligibility for Dependency and Indemnity Compensation (DIC) benefits to surviving spouses of veterans who passed away from a service-connected disability within one year of their marriage. This extension would provide much-needed support to spouses who may have been married to a veteran for a short period of time before their passing. Overall, the SVB Act aims to improve the support and benefits available to survivors of deceased veterans, ensuring that they receive the assistance they need during difficult times. The bill is currently under review in Congress, and its passage would have a positive impact on the lives of many individuals who have lost a loved one who served in the military.