H.R. 5262 — what changed

added “(iii) the proposed merger transaction would result in an entity with less than $10,000,000,000 in assets.”

removed “(iii) if the proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets.”

removed “(D) Considerations—When compiling a report on competitive factors relative to insured depository institutions under this paragraph at the request of the responsible agency, the Attorney General shall consider the banking products and services offered by the following types of entities, including loans and deposits:

removed “(i) Depository institutions, as such term is defined in section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).

removed “(ii) Depository institution holding companies, as such term is defined in section 3(w) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)).

removed “(iii) Industrial loan companies, industrial banks, or other similar institutions, as such term is defined in section 2(c) of the Bank Holding Company Act (12 U.S.C. 1841(c)).

removed “(iv) Entities chartered and operating under the Farm Credit Act of 1971.

removed “(v) Nonbank financial companies, as such term is defined in section 102 of the Financial Stability Act of 2010.

removed “(vi) Insured credit unions and noninsured credit unions, as such terms are defined in section 101 of the Federal Credit Union Act.”

changed “(14) For proposed merger transactions resulting in entities with less than $10,000,000,000 in assets—If a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity institutions with less than $10,000,000,000 in assets, then the responsible agency shall find that such acquisition, merger, consolidation, assumption of liabilities, or transfer of assets would not—assets

changed “(A) result in In general—Notwithstanding paragraph (5), if a monopoly, or be proposed merger transaction would result in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking an institution with less than $10,000,000,000 in any part of assets, then the United States; andresponsible agency shall not consider whether such merger transaction would—

changed “(B) have the effect “(i) result in any section of the country of substantially to lessening competition, tending to create a monopoly, or would be in furtherance of any other manner restraining trade.”combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and

added “(ii) have the effect in any section of the country of substantially lessening competition, tending to create a monopoly, or in any other manner restraining trade.

added “(B) Threshold adjustment

added “(i) In general—At the end of each year for which the nominal gross domestic product of the United States increases (a “covered year”), the Corporation shall adjust the dollar figures described in subparagraph (A) and paragraph (4)(C)(iii) by a percentage equal to the percentage increase (if any) between—

added “(I) the nominal gross domestic product of the United States for the year, during the preceding 5 years, with respect to which the nominal gross domestic product of the United States was the highest; and

added “(II) the nominal gross domestic product of the United States for the covered year.

added “(ii) Determination of GDP—In this paragraph, the Corporation shall use nominal gross domestic product statistics determined by the Bureau of Economic Analysis.”

changed “(8) Considerations with respect to competitive factors—When evaluating competitive factors relative to a For proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets, under paragraph (1), the Board shall consider the banking products and services offered by the following types of entities, including loans and deposits:transactions resulting in companies with less than $10,000,000,000 in assets

changed “(A) Depository institutions, as such term is defined in In general—Notwithstanding paragraph (1), if a proposed acquisition, merger, or consolidation under this section 3(c) of would result in a company with less than $10,000,000,000 in assets, then the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).Board shall not consider whether such acquisition, merger, or consolidation would—

changed “(B) Depository institution holding companies, as such term is defined “(i) result in section 3(w) a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the Federal Deposit Insurance Act (12 U.S.C. 1813(w)).business of banking in any part of the United States; and

changed “(C) Industrial loan companies, industrial banks, or other similar institutions, as such term is defined “(ii) have the effect in any section 2(c) of the Bank Holding Company Act (12 U.S.C. 1841(c)).country of substantially lessening competition, tending to create a monopoly, or in any other manner restraining trade.

changed “(D) Entities chartered and operating under the Farm Credit Act of 1971.“(B) Threshold adjustment

changed “(E) Nonbank financial companies, as such term is defined in section 102 “(i) In general—At the end of each year for which the Financial Stability Act nominal gross domestic product of 2010.the United States increases (a “covered year”), the Board shall adjust the dollar figure described in subparagraph (A) by a percentage equal to the percentage increase (if any) between—

changed “(F) Insured credit unions and noninsured credit unions, as such terms are defined in section 101 “(I) the nominal gross domestic product of the Federal Credit Union Act.United States for the year, during the preceding 5 years, with respect to which the nominal gross domestic product of the United States was the highest; and

changed “(9) For proposed transactions resulting in entities with less than $10,000,000,000 in assets—If a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets, then “(II) the Board shall find that such acquisition, merger, consolidation, assumption of liabilities, or transfer nominal gross domestic product of assets would not—the United States for the covered year.

changed “(A) result in a monopoly, or be in furtherance “(ii) Determination of any combination or conspiracy to monopolize or to attempt to monopolize GDP—In this paragraph, the business of banking in any part of Board shall use nominal gross domestic product statistics determined by the United States; andBureau of Economic Analysis.”

removed “(B) have the effect in any section of the country of substantially to lessening competition, tending to create a monopoly, or in any other manner restraining trade.”

changed “(8) Considerations with respect to competitive factors—When evaluating competitive factors relative to a For proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets, under paragraph (1), the Board shall consider the banking products and services offered by the following types of entities, including loans and deposits:transactions resulting in companies with less than $10,000,000,000 in assets

changed “(A) Depository institutions, as such term is defined in section 3(c) In general—Notwithstanding subparagraphs (A) and (B) of paragraph (2), if a proposed transaction under this section would result in a company with less than $10,000,000,000 in assets, then the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).Board shall not consider whether the transaction would—

changed “(B) Depository institution holding companies, as such term is defined “(i) result in section 3(w) a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the Federal Deposit Insurance Act (12 U.S.C. 1813(w)).savings and loan business in any part of the United States; and

changed “(C) Industrial loan companies, industrial banks, or other similar institutions, as such term is defined “(ii) have the effect in any section 2(c) of the Bank Holding Company Act (12 U.S.C. 1841(c)).country of substantially lessening competition, tending to create a monopoly, or in any other manner restraining trade.

changed “(D) Entities chartered and operating under the Farm Credit Act of 1971.“(B) Threshold adjustment

changed “(E) Nonbank financial companies, as such term is defined in section 102 “(i) In general—At the end of each year for which the Financial Stability Act nominal gross domestic product of 2010.the United States increases (a “covered year”), the Board shall adjust the dollar figure described in subparagraph (A) by a percentage equal to the percentage increase (if any) between—

changed “(F) Insured credit unions and noninsured credit unions, as such terms are defined in section 101 “(I) the nominal gross domestic product of the Federal Credit Union Act.United States for the year, during the preceding 5 years, with respect to which the nominal gross domestic product of the United States was the highest; and

changed “(9) For proposed transactions resulting in entities with less than $10,000,000,000 in assets—If a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets, then “(II) the Board shall find that such acquisition, merger, consolidation, assumption of liabilities, or transfer nominal gross domestic product of assets would not—the United States for the covered year.

changed “(A) result in a monopoly, or be in furtherance “(ii) Determination of any combination or conspiracy to monopolize or to attempt to monopolize GDP—In this paragraph, the business of banking in any part of Board shall use nominal gross domestic product statistics determined by the United States; andBureau of Economic Analysis.”

removed “(B) have the effect in any section of the country of substantially to lessening competition, tending to create a monopoly, or in any other manner restraining trade.”