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Enhanced Bank Safety: New Capital Rules for Large Financial Institutions

This act aims to bolster the financial safety of large banks by requiring them to include additional components in their capital calculations. This measure is intended to better prepare banks for potential crises, indirectly safeguarding citizens' savings and the stability of the financial system. The changes will be phased in until July 2028.
Key points
Larger banks (assets over $100 billion) must include more data in their capital calculations, enhancing their resilience.
These changes aim to better protect deposits and financial stability, reducing risk for taxpayers in case of bank issues.
A transition period is provided for banks to adapt to the new requirements by July 2028.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_4206
Sponsor: Rep. Sherman, Brad [D-CA-32]
Process start date: 2023-06-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Bank Safety Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4206.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-06-20.

What are the main provisions?

Key points include:

  • Larger banks (assets over $100 billion) must include more data in their capital calculations, enhancing their resilience.
  • These changes aim to better protect deposits and financial stability, reducing risk for taxpayers in case of bank issues.
  • A transition period is provided for banks to adapt to the new requirements by July 2028.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sherman, Brad [D-CA-32].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 612.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy