H.R.4510: Insurance Capital Standards Clarification Act of 2014

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 Gary G. Miller, R-Calif.
Total Cosponsors 227 (105 Democrats, 122 Republicans)
Introduced April 29, 2014
Latest Major Action May 20, 2014
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Bill Progress

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

Bill Summary

Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System (Board).

States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary).

Exempts from any requirement to prepare holding company financial statements in accordance with Generally Accepted Accounting Principles any Board-supervised depository institution holding comp...

(Source: Congressional Research Service)

Bill Actions

Date Description
May 20, 2014 Hearings Held by the Subcommittee on Housing and Insurance Prior to Referral.
April 29, 2014 Referred to the House Committee on Financial Services.