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.
![handle is hein.congrecreports/crptxabcb0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-592
FINANCIAL STABILITY OVERSIGHT COUNCIL
IMPROVEMENT ACT OF 2017
MARCH 9, 2018.-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. 4061]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4061) to amend the Financial Stability Act of 2010 to im-
prove the transparency of the Financial Stability Oversight Coun-
cil, to improve the SIFI designation process, and for other pur-
poses, having considered the same, report favorably thereon with-
out amendment and recommend that the bill do pass.
PURPOSE AND SUMMARY
On October 10, 2017, Representative Dennis Ross introduced
H.R. 4061, the Financial Stability Oversight Council Improvement
Act, which amends Title I of the Dodd-Frank Wall Street Reform
and Consumer Protection Act (Dodd-Frank) to require the Finan-
cial Stability Oversight Council (FSOC), as it determines whether
to subject a U.S. or a foreign nonbank financial company to super-
vision by the Board of Governors of the Federal Reserve System
(Federal Reserve), to consider the appropriateness of imposing
heightened prudential standards as opposed to other forms of regu-
lation to mitigate identified risks to U.S. financial stability.
79-006](ViewImageLocal?handle=hein.congrecreports/crptxabcb0001&div=1&collection=&method=preview&ext=.png&size=3)