The House Financial Services Committee is expected to vote this week on several bipartisan bills that are part of ABA’s Agenda for America’s Hometown Banks. H.R. 1309, introduced by Rep. Blaine Luetkemeyer (R-Mo.) with 112 bipartisan co-sponsors, would eliminate the automatic designation of banks as systemically important based solely on asset size, recognizing that regulators should consider many different components of risk. “The most effective and value-added supervision regime is one that is risk-based and individually tailored,” ABA said.
Meanwhile, H.R. 1660, introduced by Reps. Keith Rothfus (R-Pa.) and Jim Himes (D-Ct.), would allow thrifts chartered under the Home Owners’ Loan Act to elect to receive the lending powers — and compliance responsibilities — of national banks without changing their HOLA charters. ABA has strongly championed both bills. ABA welcomed the bill and urged the committee to consider H.R. 1661, which would provide a capital-raising instrument for mutual banks.
ABA also supports H.R. 2209, which would further expand the ability of banks to count municipal securities as high-quality liquid assets under the Liquidity Coverage Ratio.