[House Report 115-582]
[From the U.S. Government Publishing Office]
115th Congress } { Report
HOUSE OF REPRESENTATIVES
2d Session } { 115-582
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PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 4296) TO PLACE
REQUIREMENTS ON OPERATIONAL RISK CAPITAL REQUIREMENTS FOR BANKING
ORGANIZATIONS ESTABLISHED BY AN APPROPRIATE FEDERAL BANKING AGENCY, AND
PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 4607) TO AMEND THE
ECONOMIC GROWTH AND REGULATORY PAPERWORK REDUCTION ACT OF 1996 TO
ENSURE THAT FEDERAL FINANCIAL REGULATORS PERFORM A COMPREHENSIVE REVIEW
OF REGULATIONS TO IDENTIFY OUTDATED OR OTHERWISE UNNECESSARY REGULATORY
REQUIREMENTS IMPOSED ON COVERED PERSONS, AND FOR OTHER PURPOSES
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February 26, 2018.--Referred to the House Calendar and ordered to be
printed
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Mr. Buck, from the Committee on Rules,
submitted the following
R E P O R T
[To accompany H. Res. 747]
The Committee on Rules, having had under consideration
House Resolution 747, by a record vote of 8 to 3, report the
same to the House with the recommendation that the resolution
be adopted.
SUMMARY OF PROVISIONS OF THE RESOLUTION
The resolution provides for consideration of H.R. 4296, to
place requirements on operational risk capital requirements for
banking organizations established by an appropriate Federal
banking agency, under a closed rule. The resolution provides
one hour of debate equally divided and controlled by the chair
and ranking minority member of the Committee on Financial
Services. The resolution waives all points of order against
consideration of the bill. The resolution provides that an
amendment in the nature of a substitute consisting of the text
of Rules Committee Print 115-60, modified by the amendment
printed in part A of this report, shall be considered as
adopted and the bill, as amended, shall be considered as read.
The resolution waives all points of order against provisions in
the bill, as amended. The resolution provides one motion to
recommit with or without instructions.
Section 2 of the resolution provides for consideration of
H.R. 4607, the Comprehensive Regulatory Review Act, under a
closed rule. The resolution provides one hour of debate equally
divided and controlled by the chair and ranking minority member
of the Committee on Financial Services. The resolution waives
all points of order against consideration of the bill. The
resolution provides that an amendment in the nature of a
substitute consisting of the text of Rules Committee Print 115-
61, modified by the amendment printed in part B of this report,
shall be considered as adopted and the bill, as amended, shall
be considered as read. The resolution waives all points of
order against provisions in the bill, as amended. The
resolution provides one motion to recommit with or without
instructions.
EXPLANATION OF WAIVERS
The waiver of all points of order against consideration of
H.R. 4296 includes a waiver of the following:
Section 302(f) of the Congressional Budget
Act, which prohibits consideration of legislation
providing new budget authority in excess of a 302(a)
allocation of such authority;
Section 303 of the Congressional Budget Act,
which prohibits consideration of legislation, providing
a change in budget authority for a fiscal year until
the budget resolution for that year has been agreed to;
and
Clause 10 of rule XXI, which prohibits the
consideration of a bill if it has the net effect of
increasing mandatory spending over the five-year or
ten-year period.
Although the resolution waives all points of order against
provisions in H.R. 4296 as amended, the Committee is not aware
of any points of order. The waiver is prophylactic in nature.
The waiver of all points of order against consideration of
H.R. 4607 includes a waiver of the following:
Section 302(f) of the Congressional Budget
Act, which prohibits consideration of legislation
providing new budget authority in excess of a 302(a)
allocation of such authority;
Section 303 of the Congressional Budget Act,
which prohibits consideration of legislation, providing
a change in change in budget authority for a fiscal
year until the budget resolution for that year has been
agreed to; and
Clause 10 of rule XXI, which prohibits the
consideration of a bill if it has the net effect of
increasing mandatory spending over the five-year or
ten-year period.
Although the resolution waives all points of order against
provisions in H.R. 4607 as amended, the Committee is not aware
of any points of order. The waiver is prophylactic in nature.
COMMITTEE VOTES
The results of each record vote on an amendment or motion
to report, together with the names of those voting for and
against, are printed below:
Rules Committee record vote No. 193
Motion by Mr. Burgess to report the rule. Adopted: 8-3
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Majority Members Vote Minority Members Vote
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Mr. Cole........................................ ............ Ms. Slaughter..................... Nay
Mr. Woodall..................................... Yea Mr. McGovern...................... ............
Mr. Burgess..................................... Yea Mr. Hastings of Florida........... Nay
Mr. Collins..................................... Yea Mr. Polis......................... Nay
Mr. Byrne....................................... Yea
Mr. Newhouse.................................... Yea
Mr. Buck........................................ Yea
Ms. Cheney...................................... Yea
Mr. Sessions, Chairman.......................... Yea
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PART A--TEXT OF AMENDMENT TO H.R. 4296 CONSIDERED AS ADOPTED
SUMMARY OF THE AMENDMENT TO H.R. 4296 IN PART A CONSIDERED AS ADOPTED
1. Luetkemeyer (MO): Removes a total of $31,428,572.00 from
the Federal Reserve's surplus fund to cover the perceived costs
associated with this legislation.
Add at the end the following:
SEC. 2. REDUCTION OF SURPLUS FUNDS OF FEDERAL RESERVE BANKS.
(a) In General.--Section 7(a)(3)(A) of the Federal Reserve
Act (12 U.S.C. 289(a)(3)(A)) is amended by striking
``$7,500,000,000'' and inserting ``$7,468,571,428''.
(b) Effective Date.--Subsection (a) shall take effect on May
1, 2018.
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PART B--TEXT OF AMENDMENT TO H.R. 4607 CONSIDERED AS ADOPTED
SUMMARY OF THE AMENDMENT TO H.R. 4607 IN PART B CONSIDERED AS ADOPTED
1. Loudermilk (GA): Reduces the cap on surplus funds of the
Federal Reserve Banks from $7,500,000,000 to $7,495,714,285.
Add at the end the following:
SEC. 6. REDUCTION OF SURPLUS FUNDS OF FEDERAL RESERVE BANKS.
(a) In General.--Section 7(a)(3)(A) of the Federal Reserve
Act (12 U.S.C. 289(a)(3)(A)) is amended by striking
``$7,500,000,000'' and inserting ``$7,495,714,285''.
(b) Effective Date.--Subsection (a) shall take effect on May
1, 2018.
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