HR1624: Municipal Finance Support Act of 2017

By | April 26, 2018
The Seal of the US Department of Treasury

The Seal of the US Department of Treasury.

Allows certain municipal bonds to be treated as level 2A liquid (high-quality) assets.

Official Summary

Municipal Finance Support Act of 2017

This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as level 2A liquid assets if they are investment grade, liquid, and readily marketable. Under current law, only certain securities issued or guaranteed by a U.S. government-sponsored enterprise, a sovereign entity, or a multilateral development bank may be treated as level 2A liquid assets (which are considered to be high-quality assets).

Passed House
2017-10-03
Passed Senate
Signed by President
Became Public Law
ate

Amendments

Amended in committee.

Sponsors

Original sponsor: Rep. Messer, Luke [R-IN-6]

Votes

Passed House by voice vote.

Related bill: S828 (Related bill; has not passed Senate)

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