Legislative Bill · Costavela
Passed

Financial Stability and Banking Reform Act of 2023

Proposed by People Welfare Alliance · fronted by Eduardo Alonso
Passing
in all 2 chambers
Opened
12 Jun 2023
Voting closes
11 Aug 2023
Chambers
2 legislatures
Articles
1 change

Rationale

This reform will strengthen financial stability, reduce excessive risk, protect ordinary citizens and prevent financial crises. Separating retail and investment banking will create a safer and more accountable financial system.

Proposed Changes

1

Banking & Financial Regulation
Previous law
Deregulated financial centre
Capital controls, separated retail/investment banking

Timeline

  • Draft
    12 June 2023


  • Vote Open
    12 June 2023


  • Vote Closed
    11 August 2023


  • Became Law
    11 August 2023

Vote tally

Live tally across each chamber. Weighted by seats held.

Senado

Passed
266Yes 0No 0Not voted 266 seats

For: 266 / 266 seats (100.0%)

Against: 0 · Abstained: 0 · Not voted: 0

50.1% of those voting must vote in favour (actual = 100.0%)
Party Seats Vote
Alianza Conservadora Popular 74 Yes
People And Planet 0 Yes
People Welfare Alliance Proposer 0 Yes
Revolutionary Socialist Union 192 Yes
Empty seats 54 Not voted

Congress of Deputies

Passed
299Yes 0No 51Not voted 350 seats

For: 299 / 350 seats (85.4%)

Against: 0 · Abstained: 0 · Not voted: 51

50.1% of those voting must vote in favour (actual = 100.0%)
Party Seats Vote
Alianza Conservadora Popular 76 Yes
People And Planet 170 Yes
People Welfare Alliance Proposer 10 Yes
Revolutionary Socialist Union 43 Yes
Empty seats 80 Not voted

Voting record

Every vote must state a public reason. Most recent first.

People And Planet
Voted June 15, 2023
Yes

“We need to learn the lessons of previous financial crisis's and regulate the banking sector”

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