About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

H. Rept. 114-596 1 (2016-05-26)

handle is hein.congrecreports/crptxrpg0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 114-596 EXPANDING PROVEN FINANCING FOR AMERICAN EMPLOYERS ACT MAY 26, 2016.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 4166] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 4166) to amend the Securities Exchange Act of 1934 to provide specific credit risk retention requirements to certain quali- fying collateralized loan obligations, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass. The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Expanding Proven Financing for American Employ- ers Act. SEC. 2. RISK RETENTION REQUIREMENT FOR QUALIFIED COLLATERALIZED LOAN OBLIGA- TIONS. Section 15G(e) of the Securities Exchange Act of 1934 (15 U.S.C. 780-11(e)) is amended by inserting after paragraph (6) the following new paragraphs: (7) REQUIREMENTS FOR QUALIFIED COLLATERALIZED LOAN OBLIGATIONS.- (A) RISK RETENTION REQUIREMENT.-Notwithstanding any other provi- sion of this section, as of the effective date set forth in subsection (i)(2), the risk retention requirement for qualified collateralized loan obligations may be met by the purchase and, during the applicable duration of risk reten- tion specified by the rules of the Federal banking agencies under subsection (c)(1)(C)(ii), holding (without hedging or otherwise transferring the credit risk), of the value of no less than five percent of the equity distributed among each of the higher tranches of the issuance with no less than 3.5 59-006

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.