TBTF Act
Latest action. Committee on Banking, Housing, and Urban Affairs subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Financial Institutions and Consumer Protection. Hearings held.
Terminating Bailouts for Taxpayer Fairness Act of 2013 or TBTF Act - Requires federal banking agencies to establish capital requirements for the ratio of equity capital to total consolidated assets for all financial institutions.
Prohibits such requirements from requiring a financial institution with more than $50 billion in total consolidated assets to have a ratio of less than 8% of equity capital to total consolidated assets.
Requires the equity capital requirement for a financial institution with $50 billion or less in total consolidated assets to be comparable to federal banking requirements established under specified regulations for prompt corrective actions and for capital adequacy in effect as of May 1, 2013.
Directs the Federal Deposit Insurance Corporation (FDIC) to: (1) study historical equity capital ratios chosen by large depository institutions before the advent of the Federal Reserve System, federal deposit insurance, and the federal income tax (policies) encouraged depositories to favor more highly leveraged deposit and debt funding; and (2) structure the capital surcharge for financial institutions with at least $500 billion in total consolidated assets so that it fully accounts for and offsets any distortion of capital levels by such policies.
Directs the federal banking agencies to establish equity capital surcharges for each financial institution having at least $500 billion in total consolidated assets.
Authorizes capital requirements to increase continuously as a percentage of total consolidated assets as such assets increase.
Prescribes anti-evasion and implementation measures.
Directs the Board of Governors of the Federal Reserve System (Board), the FDIC, and the Comptroller of the Currency to establish capital requirements for each affiliate and subsidiary of a financial institution that are no less stringent than those established under this Act. Exempts from such requirements any financial institution with less than $50 billion in total consolidated assets.
Amends the Home Owner's Loan Act to prohibit the Board from prescribing or imposing capital or capital adequacy rules, guidelines, standards, or requirements on any functionally regulated subsidiary of a savings and loan holding company or functionally regulated affiliate of certain savings associations.
The summary continues for 8 more paragraphs. Read it in full on Congress.gov
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on April 24, 2013. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on January 8, 2014: Committee on Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection. Hearings held.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 113th Congress (2013-14), 296 of the 9,091 bills and joint resolutions introduced became law, about 3.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Sherrod Brown (D-OH) introduced it on April 24, 2013, and 6 members have since signed on as cosponsors.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on April 24, 2013, 4887 days ago. The most recent recorded action was 4628 days ago, on January 8, 2014.
Measures do not carry over. Anything the 113th Congress has not finished by January 3, 2015 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers