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U.S. GOVERNMENT
INFORMATION
Gp
113TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 113-630
FINANCIAL INSTITUTION BANKRUPTCY ACT OF 2014
DECEMBER 1, 2014.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. GOODLATTE, from the Committee on the Judiciary,
submitted the following
REPORT
[To accompany H.R. 5421]
[Including cost estimate of the Congressional Budget Office]
The Committee on the Judiciary, to whom was referred the bill
(H.R. 5421) to amend title 11 of the United States Code in order
to facilitate the resolution of an insolvent financial institution in
bankruptcy, having considered the same, reports favorably thereon
without amendment and recommends that the bill do pass.
CONTENTS
Page
Purpose and Sum m ary ........................................................................................... 1
Background and Need for the Legislation ............................................................ 2
H earings ................................................................................................................... 6
Com m ittee Consideration ....................................................................................... 7
C om m ittee V otes ...................................................................................................... 7
Com m ittee Oversight Findings ............................................................................... 7
New Budget Authority and Tax Expenditures ...................................................... 7
Congressional Budget Office Cost Estimate .......................................................... 7
Duplication of Federal Program s ........................................................................... 9
Disclosure of Directed Rule M akings ..................................................................... 10
Perform ance Goals and Objectives ......................................................................... 10
A dvisory on Earm arks ............................................................................................. 10
Section-by-Section Analysis .................................................................................... 10
Changes in Existing Law Made by the Bill, as Reported ..................................... 16
Purpose and Summary
The U.S. bankruptcy process is not optimally designed for the or-
derly resolution of financial institutions for many reasons, includ-
ing these institutions' interconnectedness and, in the case of larger
and more interconnected institutions, a potential to pose systemic
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