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H.R.1341: Financial Competitive Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Stephen Fincher, R-Tenn.
Total Cosponsors 4 (1 Democrat, 3 Republicans)
Introduced March 21, 2013
Latest Major Action July 9, 2013
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

(This measure has not been amended since it was reported to the House on June 28, 2013. The summary of that version is repeated here.)

Financial Competitive Act of 2013 - Directs the Financial Stability Oversight Council (FSOC) to study and report to Congress on the likely effects that differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement would have upon: (1) U.S. financial institutions that conduct derivatives transactions and participate in derivatives markets, (2) end users of derivatives, and (3) international derivatives markets.

Requires the study to recommend steps Congress and the constituent agencies of the FSOC should take to: (1) minimize any expected negative effects on U.S. financial institutions, derivatives markets, and end users; (2) encourage greater international consistency in implementation of internationally agreed capital, liquidity, and other pruden...

(Source: Congressional Research Service)

Bill Actions

Date Description
July 9, 2013 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
July 8, 2013 Motion to reconsider laid on the table Agreed to without objection.
July 8, 2013

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 353 - 24 (Roll no. 305). (text: CR H4181)

July 8, 2013 Considered as unfinished business. (consideration: CR H4186)
July 8, 2013 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
July 8, 2013 DEBATE - The House proceeded with forty minutes of debate on H.R. 1341.
July 8, 2013 Considered under suspension of the rules. (consideration: CR H4181-4182)
July 8, 2013 Mr. Fincher moved to suspend the rules and pass the bill, as amended.
June 28, 2013 Placed on the Union Calendar, Calendar No. 96.
June 28, 2013 Committee on Agriculture discharged.
June 28, 2013 Reported (Amended) by the Committee on Financial Services. H. Rept. 113-134, Part I.
May 7, 2013 Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 0.
May 7, 2013 Committee Consideration and Mark-up Session Held.
April 23, 2013 Referred to the Subcommittee on General Farm Commodities and Risk Management.
April 11, 2013 Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
March 21, 2013 Referred to House Agriculture
March 21, 2013 Referred to House Financial Services