Rep. Scott Garrett, R-N.J., asked Treasury Secretary Timothy Geithner Monday to clarify which companies would pay into a fund meant to pay for the resolution of systemically important institutions.
Draft legislation before the House Financial Services Committee would require any financial company with $10 billion or more of consolidated assets to pay into such a fund.
"So that I may be better informed about the universe of companies that would be subject to the proposed assessment regime, please provide my office with a list of all companies, if the legislation were enacted today, that would be subject to assessments to capitalize the systemic resolution fund," Garrett wrote in a letter to Geithner.
He requested an answer before the committee votes on the bill this week.
