About the bill
H.R. 1624 requires the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (Fed), and the Office of the Comptroller of the Currency (OCC) to treat certain investment grade municipal securities as level 2B High Quality Liquid Assets (HQLA), in order to allow these securities to be counted towards certain institution’s liquidity coverage ratio (LCR).
Liquidity is a term that can apply to assets, markets, or firms. An asset is liquid if it is easily bought and sold (i.e., converted into cash). Markets are generally considered to be liquid if there are many ready buyers and sellers. Banks hold liquid assets to reliably meet cash flow needs, which may be variable and unpredictable. When banks hold more liquid assets, they hold fewer loans, which are …
Sponsor and status
Sponsor. Representative for Indiana's 6th congressional district. Republican.
Last Updated: Oct 4, 2017
Length: 3 pages
115th Congress (2017–2019)
This bill was introduced in a previous session of Congress and was passed by the House on October 3, 2017 but was never passed by the Senate.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
19 Cosponsors (12 Democrats, 7 Republicans)
What legislators are saying
“House Sends Main Street Financial Regulatory Relief to Presidents Desk”
— Rep. Randy Hultgren [R-IL14, 2011-2018] (Co-sponsor) on May 22, 2018
“THIS WEEK IN CONGRESS - We need Common-sense gun reform”
— Rep. Gregorio Sablan [D-MP] on Oct 10, 2017
Mar 20, 2017
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
Jul 25, 2017
A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.
Sep 12, 2017
Reported by House Committee on Financial Services
A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.
Oct 3, 2017
Passed House (Senate next)
The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made.
H.R. 1624 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 1624. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
GovTrack.us. (2022). H.R. 1624 — 115th Congress: Municipal Finance Support Act of 2017. Retrieved from https://www.govtrack.us/congress/bills/115/hr1624
“H.R. 1624 — 115th Congress: Municipal Finance Support Act of 2017.” www.GovTrack.us. 2017. September 29, 2022 <https://www.govtrack.us/congress/bills/115/hr1624>
Municipal Finance Support Act of 2017, H.R. 1624, 115th Cong..
|title=H.R. 1624 (115th)
|accessdate=September 29, 2022
|author=115th Congress (2017)
|date=March 20, 2017
|quote=Municipal Finance Support Act of 2017
Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.