I

103D CONGRESS

1ST SESSION H. R. 459

To provide for nationwide banking and branching.

IN THE HOUSE OF REPRESENTATIVES

JANUARY 6, 1993

Mr. HOAGLAND (for himself and Mr. MCCOLLUM) introduced the following

bill; which was referred to the Committee on Banking, Finance and

Urban Affairs

A BILL

To provide for nationwide banking and branching.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Nationwide Banking

5 and Branching Act of 1993’’.

6 SEC. 2. NATIONWIDE BANKING.

7 (a) INTERSTATE ACQUISITIONS.—Section 3(d) of the

8 Bank Holding Company Act of 1956 (12 U.S.C. 1842(d))

9 is amended to read as follows:

10 ‘‘(d) INTERSTATE ACQUISITIONS.—
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1 ‘‘(1) IN GENERAL.—The Board may approve an

2 application under this section by a bank holding

3 company or foreign bank to acquire, directly or indi4 rectly, any voting shares of, interest in or all or sub5 stantially all of the assets of any additional insured

6 depository institution (as defined in section 3 of the

7 Federal Deposit Insurance Act) or bank holding

8 company located in any State.

9 ‘‘(2) STATE LAW.—Any acquisition described in

10 paragraph (1) that has been approved under this

11 section may be consummated notwithstanding any

12 State law that would prohibit or otherwise limit such

13 acquisition on the basis of—

14 ‘‘(A) the location or size of the acquiring

15 company, foreign bank, or subsidiary of such

16 company or foreign bank;

17 ‘‘(B) the number of insured depository in18 stitution subsidiaries of such company or for19 eign bank; or

20 ‘‘(C) any other factor that, directly or indi21 rectly has the effect of prohibiting or limiting

22 the acquisition of shares or control of an in23 sured depository institution or bank holding

24 company located in that State by an out-of25 State bank holding company or foreign bank if
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1 such factor is not applied with similar effect in

2 the case of acquisitions of insured depository in3 stitutions or bank holding companies located in

4 such State by bank holding companies located

5 in the State.’’.

6 (b) EFFECTIVE DATE.—The amendment made by

7 this section shall take effect on the date of the enactment

8 of this Act.

9 SEC. 3. INTERSTATE BRANCHING BY NATIONAL BANKS.

10 Section 5155 of the Revised Statutes (12 U.S.C. 36)

11 is amended—

12 (1) by redesignating subsections (d) through (h)

13 as subsections (e) through (i), respectively; and

14 (2) by inserting after subsection (c) the follow15 ing:

16 ‘‘(d) INTERSTATE BRANCHING BY NATIONAL

17 BANKS.—

18 ‘‘(1) IN GENERAL.—

19 ‘‘(A) APPROVALS AUTHORIZED.—Begin20 ning 2 years after the date of the enactment of

21 the Nationwide Banking and Branching Act of

22 1993, the Comptroller of the Currency may ap23 prove an application under this subsection

24 which will permit a national bank to establish

25 or acquire, and operate, branches located out-
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1 side the State in which the main office of such

2 bank is located, subject to paragraphs (2), (3),

3 and (5).

4 ‘‘(B) CONDITIONS.—In determining wheth5 er to grant approval under subparagraph (A),

6 the Comptroller of the Currency shall consider

7 the bank’s rating under the Community Rein8 vestment Act of 1977.

9 ‘‘(C) APPLICABLE LAW.—

10 ‘‘(i) IN GENERAL.—Except with re11 gard to State tax laws, any branch estab12 lished or acquired under subparagraph (A)

13 shall be subject to the laws of the host

14 State as if it were a branch of a national

15 bank with its main office in that State.

16 ‘‘(ii) FILING REQUIREMENT.—A host

17 State may require any national bank that

18 has its main office in another State that

19 wishes to establish a branch within the

20 host State to comply with filing require21 ments that are not discriminatory in na22 ture and that are similar in their effect to

23 those that are imposed on a corporation

24 from another State that is not engaged in

25 the business of banking and that seeks to
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1 engage in business in the host State. The

2 host State may preclude any national bank

3 the main office of which is located in an4 other State from establishing or operating

5 a branch within the host State if that na6 tional bank materially fails to comply with

7 the filing requirements.

8 ‘‘(2) STATE ELECTION TO PROHIBIT INTER9 STATE BRANCHING.—

10 ‘‘(A) IN GENERAL.—The provisions of

11 paragraph (1) shall not apply to branches lo12 cated or to be located in a State which has en13 acted, during the period beginning on the date

14 of the enactment of this Act, and ending 2

15 years after the date of the enactment of this

16 Act, a law that applies equally to national and

17 State banks and that expressly prohibits all

18 out-of-State banks from establishing or acquir19 ing branches located in that State.

20 ‘‘(B) EFFECT OF PROHIBITION.—A na21 tional bank that has its main office in a State

22 that has in effect a prohibition under subpara23 graph (A) may not acquire or establish a

24 branch located in any other State under the

25 provisions of this subsection.
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1 ‘‘(3) STATE ELECTION TO PERMIT INTERSTATE

2 BRANCHING.—

3 ‘‘(A) DURING THE 2-YEAR PERIOD FOL4 LOWING ENACTMENT.—The Comptroller of the

5 Currency may approve an application under

6 paragraph (1)(A) before the expiration of the 2-

7 year period described in paragraph (1)(A), if

8 the State in which the branch is or will be lo9 cated enacts a law during that period (in which

10 case paragraph (2)(A) shall not apply to such

11 State) expressly permitting the establishment

12 and acquisition of interstate branches in that

13 State by all national and State banks before the

14 expiration of the time period described in para15 graph (1)(A).

16 ‘‘(B) STATE PERMITTED TO AUTHORIZE

17 INTERSTATE BRANCHING AFTER PROHIBITING

18 INTERSTATE BRANCHING.—A State that origi19 nally elected, pursuant to paragraph (2), to pro20 hibit interstate branching may nonetheless elect

21 at any later time to permit interstate branching

22 if such State enacts a law expressly permitting

23 the establishment and acquisition of interstate

24 branches in that State by all national and State

25 banks.
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1 ‘‘(4) STATE IMPOSED CONDITIONS ON INTER2 STATE BRANCHING.—A State may require a bank

3 submitting an application under this subsection to

4 file a copy of the application with the host State

5 banking authority in a timely manner (and the

6 Comptroller of the Currency shall consider any time7 ly comments of the host State prior to approving

8 that application).

9 ‘‘(5) DEFINITIONS.—For purposes of this sub10 section—

11 ‘‘(A) HOST STATE.—The term ‘host State’

12 means the State in which a national bank es13 tablishes, acquires, or maintains a branch other

14 than the State in which the bank has its main

15 office and is engaging in banking business.

16 ‘‘(B) INSURED DEPOSITORY INSTITU17 TION.—The term ‘insured depository institu18 tion’ has the same meaning as in section 3 of

19 the Federal Deposit Insurance Act.

20 ‘‘(6) STATE TAXATION AUTHORITY NOT AF21 FECTED.—No provision of this subsection shall be

22 construed to affect the authority of any State or po23 litical subdivision of any State to apply any tax or

24 method of taxation to a national, State, or foreign

25 bank, or a bank holding company, when such tax or
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1 tax method is otherwise permissible by or under the

2 Constitution of the United States or other Federal

3 law.’’.

4 SEC. 4. INTERSTATE BRANCHING BY STATE BANKS.

5 Section 18(d) of the Federal Deposit Insurance Act

6 (12 U.S.C. 1828(d)) is amended by adding at the end the

7 following:

8 ‘‘(3) INTERSTATE BRANCHING BY STATE

9 BANKS.—Beginning 2 years after the date of the en10 actment of the Nationwide Banking and Branching

11 Act of 1993, an insured State bank may establish or

12 acquire, and operate, branches located outside the

13 State in which the bank is chartered if authorized by

14 the law of the State in which the bank is chartered.

15 ‘‘(4) APPLICABLE LAW.—

16 ‘‘(A) IN GENERAL.—Except with regard to

17 State tax laws, any branch of an out-of-State

18 State bank shall be subject to the laws of the

19 host State as if such branch were a branch of

20 a bank chartered by that State.

21 ‘‘(B) ACTIVITIES OF BRANCHES.—An in22 sured State bank that establishes a branch or

23 branches pursuant to paragraph (3) may not

24 conduct any activity at such branch that is not
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1 permissible for a bank chartered by the host

2 State.

3 ‘‘(C) FILING REQUIREMENT.—A host State

4 may require any insured bank chartered by an5 other State that wishes to establish a branch

6 within the host State to comply with filing re7 quirements that are not discriminatory in na8 ture and that are similar in their effect to those

9 that are imposed on a corporation from another

10 State that is not engaged in the business of

11 banking and that seeks to engage in business in

12 the host State. The host State may preclude

13 any State bank chartered by another State

14 from establishing or operating a branch within

15 the host State if that State bank or its branch

16 materially fails to comply with the filing re17 quirements.

18 ‘‘(D) RESERVATION OF CERTAIN RIGHTS

19 TO STATES.—Nothing in this subsection limits

20 in any way the right of a State to—

21 ‘‘(i) determine the authority of State

22 banks chartered in that State to establish

23 and maintain branches; or

24 ‘‘(ii) supervise, regulate, and examine

25 State banks chartered by that State.
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1 ‘‘(5) STATE ELECTION TO PROHIBIT INTER2 STATE BRANCHING.—

3 ‘‘(A) IN GENERAL.—The provisions of

4 paragraph (3) shall not apply to branches lo5 cated or to be located in a State which has en6 acted, during the period beginning on the date

7 of the enactment of the Nationwide Banking

8 and Branching Act of 1993, and ending 2 years

9 after the date of the enactment of such Act, a

10 law that applies equally to national and State

11 banks and that expressly prohibits all out-of12 State banks from establishing or acquiring

13 branches located in that State.

14 ‘‘(B) EFFECT OF PROHIBITION.—A State

15 bank that is chartered by a State that has in

16 effect a prohibition under subparagraph (A)

17 may not acquire or establish a branch located

18 in any other State under the provisions of para19 graph (3) or paragraph (6) of this subsection.

20 ‘‘(6) STATE ELECTION TO PERMIT INTERSTATE

21 BRANCHING.—

22 ‘‘(A) DURING THE 2-YEAR PERIOD FOL23 LOWING ENACTMENT.—A State bank may es24 tablish or acquire and operate a branch outside

25 the State in which the main office of the bank
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1 is located, before the expiration of the 2-year

2 period described in paragraph (3), if the State

3 in which the branch is or will be located enacts

4 a law during that period (in which case para5 graph (5)(A) shall not apply to such State) ex6 pressly permitting the establishment and acqui7 sition of interstate branches in that State by all

8 national and State banks before the expiration

9 of the time period described in paragraph (3).

10 ‘‘(B) STATE PERMITTED TO AUTHORIZE

11 INTERSTATE BRANCHING AFTER PROHIBITING

12 INTERSTATE BRANCHING.—A State that origi13 nally elected, pursuant to paragraph (5), to pro14 hibit interstate branching may nonetheless elect

15 at any later time to permit interstate branching

16 if such State enacts a law expressly permitting

17 the establishment and acquisition of interstate

18 branches in that State by all national and State

19 banks.

20 ‘‘(7) STATE IMPOSED CONDITIONS ON INTER21 STATE BRANCHING.—

22 ‘‘(A) A State may require a bank submit23 ting an application under the authority of para24 graph (3) or paragraph (6) of this subsection to

25 file a copy of the application with the host
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1 State banking authority in a timely manner

2 (and the home State banking authority and the

3 appropriate Federal banking agency shall con4 sider any timely comments of the host State

5 prior to approving that application).

6 ‘‘(B) A State may impose other conditions

7 on a branch established or acquired under para8 graph (3) or paragraph (6) if—

9 ‘‘(i) the conditions do not discriminate

10 against out-of-State State banks or bank

11 holding companies; and

12 ‘‘(ii) the imposition of the conditions

13 is not preempted by Federal law.

14 ‘‘(8) COORDINATION OF EXAMINATION AUTHOR15 ITY.—

16 ‘‘(A) IN GENERAL.—A host State bank su17 pervisory or regulatory authority may examine

18 branches established or acquired in the host

19 State by banks chartered by another State for

20 the purpose of determining compliance with

21 host State laws regarding permissible activities

22 and to ensure that the activities of the branch

23 are conducted in a manner consistent with

24 sound banking principles and do not constitute
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1 a serious risk to the safety and sound operation

2 of the branch.

3 ‘‘(B) ENFORCEMENT.—In the event that a

4 host State bank authority as described in sub5 paragraph (A) determines that there is a viola6 tion of host State law concerning the activities

7 being conducted by the State branch or that the

8 branch is being operated in a manner not con9 sistent with sound banking principles or in an

10 unsafe and unsound manner, such host State

11 bank authority may undertake such enforce12 ment actions or proceedings as would be per13 mitted under host State law as if the branch in

14 question were a bank chartered by that host

15 State.

16 ‘‘(C) COOPERATIVE AGREEMENT.—The

17 State bank authorities from one or more States

18 are authorized to enter into cooperative agree19 ments of facilitate State regulatory supervision

20 of State banks, including cooperative agree21 ments relating to the coordination of examina22 tions and joint participation in examinations.

23 ‘‘(D) FEDERAL REGULATORY AUTHOR24 ITY.—
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1 ‘‘(i) IN GENERAL.—Nothing in this

2 subsection limits in any way the authority

3 of the appropriate Federal banking agency

4 to examine any bank or branch of a bank

5 for which the agency is the appropriate

6 Federal banking agency.

7 ‘‘(ii) REVIEW OF INTERSTATE AGREE8 MENTS.—If the appropriate Federal bank9 ing authority determines that the States

10 have failed to reach an agreement under

11 subparagraph (C), or that such an agree12 ment fails to adequately protect the Fed13 eral Deposit Insurance Fund, the appro14 priate Federal banking authority shall not

15 defer to State examinations of the out-of16 State branches.

17 ‘‘(9) HOST STATE DEFINED.—For purposes of

18 this subsection, the term ‘host State’ means the

19 State in which a bank establishes or maintains a

20 branch other than the State in which the bank is

21 chartered and engaging in banking business.

22 ‘‘(10) STATE TAXATION AUTHORITY NOT AF23 FECTED.—No provision of paragraphs (3) through

24 (9) of this subsection shall be construed to affect the

25 authority of any State or political subdivision of any
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1 State to apply any tax or method of taxation to a

2 national, State, or foreign bank, or a bank holding

3 company, when such tax or tax method is otherwise

4 permissible by or under the Constitution of the Unit5 ed States or other Federal law.’’.

6 SEC. 5. BRANCHING BY FOREIGN BANKS.

7 (a) IN GENERAL.—Section 5(a) of the International

8 Banking Act of 1978 (12 U.S.C. 3103(a)) is amended to

9 read as follows:

10 ‘‘(a) INTERSTATE BANKING OPERATIONS.—

11 ‘‘(1) IN GENERAL.—A foreign bank may estab12 lish and operate—

13 ‘‘(A) a Federal branch or agency, with the

14 approval of the Comptroller of the Currency, in

15 consultation with the Board, in any State out16 side its home State to the extent that such es17 tablishment and operation would be permitted

18 under section 5155 of the Revised Statutes for

19 a national bank as if the foreign bank were a

20 national bank having its main office in the

21 home State of the foreign bank; or

22 ‘‘(B) a State branch or agency, with the

23 approval of the Board and the appropriate reg24 ulatory authority of the State, in any State out25 side its home State to the extent that such es-
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1 tablishment and operation would be permitted

2 under section 18(d) of the Federal Deposit In3 surance Act for a State bank as if the foreign

4 bank were a State bank chartered in the home

5 State of the foreign bank.

6 ‘‘(2) CRITERIA FOR DETERMINATION.—In re7 viewing an application under paragraph (1), the

8 Board, in the cases of State branches and agencies,

9 and the Comptroller of the Currency, in cases of

10 Federal branches and agencies—

11 ‘‘(A) shall apply the standards for estab12 lishment of a foreign bank office in the United

13 States under section 7(d); and

14 ‘‘(B) may not approve an application un15 less it determines that the foreign bank’s finan16 cial resources, including the capital level, are

17 equivalent to those required for a domestic

18 bank to be approved for branching under sec19 tion 5155 of the Revised Statutes and section

20 18(d) of the Federal Deposit Insurance Act

21 and, in the case of the first branching applica22 tion by such foreign bank, after consultation

23 with the Secretary of the Treasury regarding

24 capital equivalency. For purposes of determin25 ing capital equivalency under this paragraph,
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1 the guidelines established and reported to the

2 Congress pursuant to section 7(j) of this Act

3 shall be applied.

4 ‘‘(3) ADDITIONAL AUTHORITY FOR INTERSTATE

5 BRANCHES AND AGENCIES OF FOREIGN BANKS.—

6 Notwithstanding paragraph (1) of this subsection

7 and section 4(h) of this Act, a foreign bank may,

8 with the approval of the Comptroller of the Cur9 rency, establish and operate a Federal branch or

10 Federal agency or, with the approval of the Board

11 and the appropriate State bank supervisor, a State

12 branch or State agency in any State outside of the

13 foreign bank’s home State if—

14 ‘‘(A) the establishment and operation of a

15 branch or agency is expressly permitted by the

16 State in which the branch or agency is to be es17 tablished; and

18 ‘‘(B) in the case of a Federal or State

19 branch, the branch receives only such deposits

20 as would be permissible for a corporation orga21 nized under section 25(a) of the Federal Re22 serve Act.’’.

23 (b) HOME STATE DETERMINATIONS.—

24 (1) METHOD OF DETERMINING.—Section 4(h)

25 of the International Banking Act of 1978 (12 U.S.C.
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1 3102(h)) is amended by adding at the end the fol2 lowing sentence: ‘‘For the purposes of section

3 5155(c) of the Revised Statutes (12 U.S.C. 36(c)),

4 the home State of a foreign bank shall be its home

5 State as determined under section 5(c) of this Act.’’.

6 (2) SINGLE STATE DETERMINATIONS.—Section

7 5(c) of the International Banking Act of 1978 (12

8 U.S.C. 3103(c)) is amended to read as follows:

9 ‘‘(c) DETERMINATION OF HOME STATE OF FOREIGN

10 BANK.—For the purposes of this section—

11 ‘‘(1) the home State of a foreign bank that has

12 branches, agencies, subsidiary commercial lending

13 companies, or subsidiary banks, or any combination

14 thereof, in more than 1 State, is the 1 of those

15 States elected by the foreign bank, or, in default of

16 such election, by the Board; and

17 ‘‘(2) the home State of a foreign bank that has

18 branches, agencies, subsidiary commercial lending

19 companies, or subsidiary banks, or any combination

20 thereof, in only 1 State, is that State.’’.

21 SEC. 6. PERMISSIBLE COMBINATION.

22 (a) SUBSIDIARY BANKS.—Section 3 of the Bank

23 Holding Company Act of 1956 (12 U.S.C. 1842) is

24 amended by adding at the end of the following subsection:

25 ‘‘(h) PERMISSIBLE COMBINATION.—
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1 ‘‘(1) IN GENERAL.—A bank holding company

2 having subsidiary banks located in more than 1

3 State may combine 2 or more of such banks into a

4 single bank by means of merger, consolidation, or

5 other transaction on or after 2 years from the date

6 of enactment of the Nationwide Banking and

7 Branching Act of 1993. Any combination effected in

8 accordance with this subsection shall be permissible

9 within a State as of 2 years after the date of enact10 ment of the Nationwide Banking and Branching Act

11 of 1993, unless such State has enacted a law in ac12 cordance with section 5155(d)(2)(A) of the Revised

13 Statutes or section 18(d)(5)(A) of the Federal De14 posit Insurance Act that applies equally to national

15 and State banks and that expressly prohibits all out16 of-State banks from establishing or acquiring

17 branches located in that State.

18 ‘‘(2) BRANCHING AUTHORITY.—The combined

19 bank may, subject to compliance with all applicable

20 Federal or State laws relating to the retention, es21 tablishment, acquisition, or operation of a branch,

22 retain, establish, acquire, and operate additional

23 branches at any location where the combined bank

24 or any of the parties to the combination could, if
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1 they had not been parties to such combinations, have

2 retained, established, acquired, or operated a branch.

3 ‘‘(3) APPLICABLE LAW.—

4 ‘‘(A) NATIONAL BANKS.—Except with re5 gard to State tax laws, any branch of a national

6 bank established or acquired in connection with

7 a consolidation or other transaction under para8 graph (1) shall be subject to the laws of the

9 host State as if it were a branch of a national

10 bank with its main office in that State.

11 ‘‘(B) STATE BANKS.—Except with regard

12 to State tax laws, any branch of an out-of-State

13 State bank shall be subject to the laws of the

14 host State as if such branch were a branch of

15 a bank chartered by that State.

16 ‘‘(4) 2-YEAR TRANSITION PERIOD.—A bank

17 holding company having subsidiary banks located in

18 more than 1 State may combine 2 or more such

19 banks into a single bank by means of merger, con20 solidation, or other transaction before the end of the

21 2-year period described in paragraph (1), if each

22 State in which the banks involved in the transaction

23 are located enacts a law during that period (in which

24 case section 5155(d)(2)(A) of the Revised Statutes

25 or section 18(d)(5)(A) of the Federal Deposit Insur-
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1 ance Act shall not apply to such States) expressly

2 permitting interstate mergers and consolidations by

3 all national and State banks before the expiration of

4 the time period described in paragraph (1).

5 ‘‘(5) STATE TAXATION AUTHORITY NOT AF6 FECTED.—No provision of this subsection shall be

7 construed to affect the authority of any State or po8 litical subdivision of any State to apply any tax or

9 method of taxation to a national, State, or foreign

10 bank, or a bank holding company, when such tax or

11 tax method is otherwise permissible by or under the

12 Constitution of the United States or other Federal

13 law.’’.

14 (b) NATIONAL BANKING ASSOCIATIONS.—The Act

15 entitled ‘‘An Act to provide for the consolidation of na16 tional banking associations’’, approved November 7, 1918

17 (12 U.S.C. 215 et seq.), is amended—

18 (1) in the first sentence of subsection (a) of the

19 first section, by inserting ‘‘, or in any State in which

20 a bank is authorized to engage in an interstate con21 solidation pursuant to section 3(h) of the Bank

22 Holding Company Act of 1956’’ after ‘‘located in the

23 same State’’;

24 (2) by adding at the end of the first section the

25 following new subsection:
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1 ‘‘(h) An interstate consolidation pursuant to this sec2 tion shall be undertaken in accordance with the limitations

3 and requirements set forth in section 3(h) of the Bank

4 Holding Company Act of 1956 as if such section 3(h) ap5 plied to such consolidation. The procedures, limitations,

6 and requirements set forth in this section apply to inter7 state consolidations undertaken pursuant to and in ac8 cordance with such section 3(h) to the extent such proce9 dures, limitations, and requirements of this section are not

10 inconsistent with such section 3(h).’’;

11 (3) in the first sentence of section 2(a)—

12 (A) by striking ‘‘under an agreement not

13 inconsistent with this subchapter’’; and

14 (B) by inserting ‘‘or within any State in

15 which a bank is authorized to engage in an

16 interstate merger pursuant to section 3(h) of

17 the Bank Holding Company Act of 1956’’ after

18 ‘‘located within the same State’’;

19 (4) by adding at the end of section 2 the follow20 ing new subsection:

21 ‘‘(h) An interstate merger pursuant to this section

22 shall be undertaken in accordance with the limitations and

23 requirements set forth in section 3(h) of the Bank Holding

24 Company Act of 1956 as if such section 3(h) applied to

25 such merger. The procedures, limitations, and require-
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1 ments set forth in this section apply to interstate mergers

2 undertaken pursuant to and in accordance with such sec3 tion 3(h) to the extent such procedures, limitations, and

4 requirements of this section are not inconsistent with such

5 section 3(h).’’; and

6 (5) in paragraph (4) of section 3, by inserting

7 ‘‘or within any State in which a bank that is author8 ized to engage in an interstate consolidation or

9 interstate merger pursuant to and in accordance

10 with section 3(h) of the Bank Holding Company Act

11 of 1956’’ after ‘‘within the same State’’.

12 SEC. 7. STATE-BY-STATE CRA EVALUATIONS OF DEPOSI13 TORY INSTITUTIONS WITH INTERSTATE

14 BRANCHES.

15 Section 807 of the Community Reinvestment Act of

16 1977 (12 U.S.C. 2906) is amended by adding at the end

17 the following new subsection:

18 ‘‘(d) STATE-BY-STATE EVALUATION OF INSTITU19 TIONS WITH INTERSTATE BRANCHES.—In the case of a

20 regulated financial institution which maintains 1 or more

21 domestic branches located outside the State in which the

22 institution’s main office is located, in the case of a na23 tional bank, or in which the bank is chartered, in the case

24 of a State bank (hereafter in this subsection referred to
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1 as the ‘home State’), the appropriate Federal financial su2 pervisory agency shall prepare—

3 ‘‘(1) a written evaluation of the entire institu4 tion’s record of performance under this Act, as re5 quired by subsections (a), (b), and (c); and

6 ‘‘(2) for each State in which the institution

7 maintains 1 or more domestic branches (including

8 the institution’s home State), a separate written

9 evaluation of the institution’s record of performance

10 within such State under this Act, as required by

11 subparagraphs (A) and (B) of subsection (b)(1).’’.

12 SEC. 8. GUIDELINES FOR MEETING CREDIT NEEDS.

13 Under its authority pursuant to the Community Re14 investment Act of 1977, the appropriate Federal banking

15 agency shall promulgate regulations establishing guide16 lines to ensure that each interstate branch meets the cred17 it needs of the community and market area in which the

18 branch operates.

19 SEC. 9. EXISTING LAW UNAFFECTED.

20 No provision of this Act and no amendment made by

21 this Act to any other provision of law shall be construed

22 as affecting in any way the right of any State, or any polit23 ical subdivision of any State, to impose or maintain a non24 discriminatory franchise tax or other nonproperty tax in-
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1 stead of a franchise tax in accordance with section 3124

2 of title 31, United States Code.

Æ

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