The Senate recently introduced a bill intended to provide the Federal Reserve flexibility when designating bank holding companies as systemically important financial institutions (SIFIs) by allowing the Fed to make such determinations based on an entity’s activities, not size.
The bipartisan legislation introduced by Sens. Claire McCaskill (D-Mo.) and David Perdue (R-Ga.) is similar to a House bill Rep. Blaine Luetkemeyer (R-Mo.) introduced in November 2016 and again in July 2017.
Find out what the legislators and the financial industry have to say about the proposed legislative pieces.