Section 1 Short title
This Act may be cited as the “Community Bank Relief Act”.
Community Bank Relief Act
A BILL
To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes.
Sec. 2 Definitions
In this Act—
the term bank holding company has the meaning given the term in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841);
the term Board means the Board of Governors of the Federal Reserve System; and
the term savings and loan holding company has the meaning given the term in section 10(a) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)).
Sec. 3 Changes required to small bank holding company policy statement on assessment of financial and managerial factors
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 shall revise appendix C of part 225 of title 12, Code of Federal Regulations (commonly known as the “Small Bank Holding Company and Savings and Loan Holding Company Policy Statement”), to raise the consolidated asset threshold under that appendix from $1,000,000,000 (as adjusted by Public Law 113–250 (12 U.S.C. 5371 note)) to $5,000,000,000 for bank holding companies and savings and loan holding companies that—
are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary;
do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary; and
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.
Exclusions— The Board may exclude any bank holding company or savings and loan holding company, regardless of asset size, from the revision under subsection (a) if the Board determines that such action is warranted for supervisory purposes.
Conforming amendment— Section 171(b)(5) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5371(b)(5)) is amended by striking subparagraph (C) and inserting the following:
“(C) any bank holding company or savings and loan holding company that is subject to the application of appendix C of part 225 of title 12, Code of Federal Regulations (commonly known as the “Small Bank Holding Company and Savings and Loan Holding Company Policy Statement”).”