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The Financial CHOICE Act in the 115th Congress: Selected Policy Issues
This report highlights major proposals included in the Financial CHOICE Act (FCA) but is not a comprehensive summary. In general, the bill proposes changes that can be divided into two categories: (1) changes to financial policies and regulations and (2) changes to the regulatory structure and rulemaking process. Major policy-related changes proposed by the FCA include the following: Leverage Ratio, Regulatory Relief, To Big To Fail, Funding, Rulemaking, Judicial Review, Enforcement, the Consumer Financial Protection Bureau (CFPB), and the Federal Reserve.
Commodity Futures Trading Commission: Proposed Reauthorization in the 115th Congress
This report examines selected major H.R. 238 provisions that would authorize appropriations for the Commodity Futures Trading Commission (CFTC) of $250 million for each of FY2017 through FY2021, expand the current 5 cost-benefit analysis provisions in the CEA to 12 considerations and add a requirement that the CFTC conduct quantitative as well as qualitative assessments, potentially broaden the bona fide hedging definition to allow anticipated, as well as current, risks to be hedged, which might increase the number of swaps that qualify as hedges, and mandate that, starting 18 months from enactment, the regulatory requirements of the eight largest foreign swaps markets be considered comparable to those of the United States--unless the CFTC issued a rule finding that any of those foreign jurisdictions' requirements were not comparable to U.S. requirements.
Normalization of the Federal Reserve's Balance Sheet
This report answers questions about the Federal Reserve's (Fed's) September 20 announcement that it would begin to normalize its balance sheet in October by gradually reducing its asset holdings.
Social Security: The Trust Funds
This report covers how the Social Security program is financed and how the Social Security trust funds work. It will be updated annually to reflect current projections of the financial status of the Social Security trust funds.
Social Security: What Would Happen if the Trust Funds Ran Out?
This report explains what the Social Security trust funds are and how they work. It describes the historical operations of the trust funds and the Social Security trustees' projections of future operations. It explains what could happen if Congress allowed the trust funds to run out. It also analyzes two scenarios that assume Congress waits until the moment of insolvency to act, showing the magnitude of benefit cuts or tax increases needed and how such changes would affect beneficiaries.
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