$ r r 6

cease to be bank holding companies are automatically .... Banks, Credit Card Banks and Trust. Banks, $603 ... and insured credit unions, each with total assefs ...
604KB Sizes 10 Downloads 262 Views
Kcy Exclusionsin the Dodd Bill as Filed April 19,2010 PRovISION

g6l9 Volcker RuleProhibitions,



Prohibits proprietary tradingand investing in or sponsoring private funds.

r Foreigncompanies'foreign proprietarytrading, r Foreigncompanies' investments in or sponsorship offoreign privatefunds, De-Banking("Hotel California Bankholdingcompanies r Bankholdingcompanies that with Rule"),$ I 17 receivedTARP assistance and then Iessthan$50 billionin assets as ceaseto be bankholdingcompanies o f J a n u a r1y, 2 0 1 0 . areautomatically deemedto be r Thrift holdingcompanies that systemicallyimportantnonbank receivedTARP assistance, financialoompanies, Fundingfor the Officeof Financial Imposesan annualassessment r Nonbankfinancialcompanies' on Research, nonbankfinancialcompanies and $155 thatarenotsystemically bankholdingcompanies to provide important, fundingfor the Office of Financial r Bankholdingcompanies with Research, I e s st h a n$ 5 0b i l l i o ni n a s s e t s . Designation, Systemic Authorizes r Foreignoperationsof foleign theCouncilto identifua $ I l3 nonbank financial company as nonbankfinancialcompanies are systemically important. generally not considered by the Councilin makingits determination. - Enhanced DirectstheFederal r Nonbankfinancialcornpanics Systemic Regulation Reserve to prudential establish Prudential Standards, enhanced thatarenot systemically {iI 65 including oncapitaland standards, important. plan r Bankholdingcompanies Iiquidify,andimpose resolution with requirements. andconcentration Iessthan$50billion in assets. - Approval Requires Reserve approval o Nonbankfinancialcompanies Regulation of Federal Systemic for acquisitions of largenonbank M&A Activify,$163 thatarenot systemically companies, important. r Bankholdingcompanies with lessthan$50billion in assets. r Nonbankfinancialcompanies' Requiresthe FoderalReserveto SystemicRegulation- Activities on activitiesor imposerestrictions thatarenot systemically Restrictions and BleakupPower, up ofan imposeassetsale/break impoftant. $r 2 l . Bankholdingcompanies institutionthat is deemedto posea with "gravethreat"to U.S.financial lessthan$50 billion in assets, stabiliw, o Nonbankfinancialcompanies Permitsthe Councilto require of CertifredRepofts, Submission and nonbank financial conrpanies that arenot systemically r 6 $r to submit bankholdingcompanies important. r Bankholdingcompanies certifiedreportson the financial with conditionof thecompany, lessthan$50billion in assets, . Non-publiclyhadedcompanies. by large, a riskcommittee for a Risk Committee, Requires Requiremsnt I Nonbankfinancialcompanies companies andtheirholding insurance includethriftholdingcompanies, andhedgefundsandsimilarprivatefunds. and theirholdingcompanies, broker-dealers companies,



Knv Exct uslollrs


publiclyhadedbankholding companies andsystemically impoftantpubliclytradednonbank flrnancial companies,


Bankholdingcompanies with l e s st h a n$ 1 0b i l l i o n . o Nonbankfinancialcompaniesl that arenot systemically important, Carve-outs for FarmCreditSystem FarmCreditSysteminstitutions (c.$214billionin assets Institutions carved-outfrom: for all suchinstitutions), o thedefinitionof"nonbank l)(c),e4l, financialcompany"for systemic $$ 102(aX3XB),201(aXl l 027(k) risk regulation, . thedefinitionof "financial company"for the purposesoI resolutionauthorily. o Risk retentionrequirements for securitizations. r Enforcement authorifyof the CFPB, (c) r Resolution Authorify, UpontheTreasurySecretary's Insurance companies and $203 systemicrisk determination anda insurance companysubsidiaries orderby the OrderlyLiquidation (l iquidatedor rehabilitated Panel,theFDIC is appointed understatelaw). receiverandgivenresolution r (subject Coveredbroker-dealers powers, to resolution underrulessimilar to thosethatapplyunderSIPA). r Foreigncompanies, r Companies thatarenot engaged" in "predominant