118th Congress · HOUSE BILLBILL

H.R. 3812 — Financial Stability Oversight Council Improvement Act of 2023

“To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.”

Finance and financial sector

Introduced Jun 5, 2023

Last action Jun 5, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 5, 2023

Step 2

Referred

Jun 5, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

The bill requires the Financial Stability Oversight Council, prior to determining that a U.S. nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jun 5, 2023

Introduced in House

Jun 5, 2023

Referred to the House Committee on Financial Services.