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Bill
Notes

To require the Federal Reserve to make certain changes to the small bank holding company policy statement on assessment of financial and managerial factors, and for other purposes.

S. 2696 · 113th Congress · Jul 30, 2014 · Lineage

A BILL

1. Changes required to small bank holding company policy statement on assessment of financial and managerial factors

(a)
In general— Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System (hereafter in this Act referred to as the “Board”) shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 C.F.R. part 225 appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that—
(1)
are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary;
(2)
do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary; and
(3)
do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission.
(b)
Exclusions— The Board may exclude any bank holding company or savings and loan holding company, regardless of asset size, from the policy statement under subsection (a) if the Board determines that such action is warranted for supervisory purposes.

2. Conforming Amendment

Section 171(b)(5)(C) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5371(b)(5)(C)) is amended by inserting “or small savings and loan holding company” after “any small bank holding company”.

3. Definitions

For the purposes of this Act:
(a)
Bank holding company— The term bank holding company has the same meaning as in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841).
(b)
Savings and loan holding— The term savings and loan holding company has the same meaning as in section 10(a) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)).