H.R. 927: Common Sense Economic Recovery Act of 2013

Feb 28, 2013
Referred to Committee
6% chance of being enacted
Track this bill
Bill Posey
Representative for Florida's 8th congressional district
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Last Updated
Feb 28, 2013
5 pages
Related Bills
H.R. 4029 (112th) was a previous version of this bill.

Referred to Committee
Last Action: Feb 14, 2012

H.R. 2767 (Related)
Protecting American Taxpayers and Homeowners Act of 2013

Reported by Committee
Last Action: Jul 24, 2013


This bill was assigned to a congressional committee on February 28, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Introduced Feb 28, 2013
Referred to Committee Feb 28, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...

21% chance of getting past committee.
6% chance of being enacted.

Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]

Full Title

To permit certain current loans that would otherwise be treated as non-accrual loans as accrual loans, and for other purposes.


No summaries available.

4 cosponsors (3R, 1D) (show)

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Common Sense Economic Recovery Act of 2013 - Cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan.
(Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.)
Permits an insured depository institution to treat a non-accrual loan as an accrual loan if: (1) the loan is current, (2) no monthly payment has been more than 30 days delinquent during the previous 6-month period, and (3) loan payments are being made pursuant to the contract terms and all parties agree to any refinances and modifications.
Prohibits a modified or restructured loan from being treated as a non-accrual loan if the borrower demonstrates the ability to perform on such a loan: (1) over a period of 6 months; or (2) over a period of 3 consecutive payments in the case of a quarterly, semi-annual, or longer repayment schedule.
Prohibits the appropriate federal banking agency from: (1) imposing any additional accounting requirements upon an insured depository institution with respect to a loan treated as an accrual loan under this Act if the result of such requirement would adversely impact measurement of the institution's capital, or (2) requiring an insured depository institution to treat a loan as a non-accrual loan solely because the loan collateral has reduced in value.
Excludes from the accounting requirements and prohibitions of this Act any issuer of a security registered under the Securities Exchange Act of 1934.
Directs the Financial Stability Oversight Council to study how best to prevent the issuance of contradictory guidance to such institutions by federal banking agencies with respect to loan classifications and capital requirements.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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