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House Bill 5659
115th Congress(2017-2018)
Volcker Rule Relief Act of 2018
Introduced
Introduced
Introduced in House on Apr 27, 2018
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Introduced in House 
Apr 27, 2018
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Introduced in House(Apr 27, 2018)
Apr 27, 2018
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H. R. 5659 (Introduced-in-House)


115th CONGRESS
2d Session
H. R. 5659


To amend the Bank Holding Company Act of 1956 to provide relief from the Volcker Rule for community banks.

IN THE HOUSE OF REPRESENTATIVES

April 27, 2018

Mrs. Love (for herself and Mr. Huizenga) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Bank Holding Company Act of 1956 to provide relief from the Volcker Rule for community banks.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Volcker Rule Relief Act of 2018”.

SEC. 2. Community bank relief.

Section 13(h)(1) of the Bank Holding Company Act of 1956 (12 U.S.C. 1851(h)(1)) is amended—

(1) in subparagraph (D), by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively, and adjusting the margins accordingly;

(2) by redesignating subparagraphs (A) through (D) as clauses (i) through (iv), respectively, and adjusting the margins accordingly;

(3) in the matter preceding clause (i), as so redesignated, in the second sentence, by striking “institution that functions solely in a trust or fiduciary capacity, if—” and inserting the following: “institution—

“(A) that functions solely in a trust or fiduciary capacity, if—”;

(4) in clause (iv)(II), as so redesignated, by striking the period at the end and inserting “; or”; and

(5) by adding at the end the following:

    “(B) that does not have, and is not controlled by a covered fund or a bank holding company that has—

    “(i) more than $10,000,000,000 in total consolidated assets; and

    “(ii) total trading assets and trading liabilities, as reported on the most recent applicable regulatory filing filed by the institution, that are more than 5 percent of total consolidated assets.”.