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Committee passes bill to eliminate automatic SIFI designations based on asset size
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Legislation
Tuesday, November 10, 2015
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In a 39 to 16 vote, the House Financial Services Committee approved the Systemic Risk Designation Improvement Act of 2015, a bill that would amend the Financial Stability Oversight Council’s process for designating bank holding companies as systemically important financial institutions. If passed, designations would no longer be based solely on asset size. Read on for more details.
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