I 

115TH CONGRESS 

1ST SESSION H. R. 4292 

To reform the living will process under the Dodd-Frank Wall Street Reform 

and Consumer Protection Act. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 7, 2017 

Mr. ZELDIN (for himself and Mrs. CAROLYN B. MALONEY of New York) introduced the following bill; which was referred to the Committee on Financial Services 

A BILL 

To reform the living will process under the Dodd-Frank 

Wall Street Reform and Consumer Protection Act. 

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 ‘‘Financial Institution 

5 Living Will Improvement Act of 2017’’. 

6 SEC. 2. LIVING WILL REFORMS. 

7 (a) IN GENERAL.—Section 165(d) of the Dodd8 Frank Wall Street Reform and Consumer Protection Act 

9 (12 U.S.C. 5365) is amended— 


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1 (1) in paragraph (1), by striking ‘‘periodically’’ 

2 and inserting ‘‘not more often than every 2 years’’; 

3 and 

4 (2) in paragraph (3)— 

5 (A) by striking ‘‘The Board’’ and inserting 

6 the following: 

7 ‘‘(A) IN GENERAL.—The Board’’; 

8 (B) by striking ‘‘shall review’’ and insert9 ing the following: ‘‘shall— 

10 ‘‘(i) review’’; 

11 (C) by striking the period and inserting ‘‘; 

12 and’’; and 

13 (D) by adding at the end the following: 

14 ‘‘(ii) not later than the end of the 6- 

15 month period beginning on the date the 

16 company submits the resolution plan, pro17 vide feedback to the company on such 

18 plan. 

19 ‘‘(B) DISCLOSURE OF ASSESSMENT

20 FRAMEWORK.—The Board of Governors and 

21 the Corporation shall publicly disclose the as22 sessment framework that is used to review in23 formation under this paragraph.’’. 

24 (b) TREATMENT OF OTHER RESOLUTION PLAN RE25 QUIREMENTS.— 


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1 (1) IN GENERAL.—With respect to an appro2 priate Federal banking agency that requires a bank3 ing organization to submit to the agency a resolution 

4 plan not described under section 165(d) of the 

5 Dodd-Frank Wall Street Reform and Consumer Pro6 tection Act— 

7 (A) the agency shall comply with the re8 quirements of paragraphs (3) and (4) of such 

9 section 165(d); 

10 (B) the agency may not require the sub11 mission of such a resolution plan more often 

12 than every 2 years; and 

13 (C) paragraphs (6) and (7) of such section 

14 165(d) shall apply to such a resolution plan. 

15 (2) DEFINITIONS.—For purposes of this sub16 section: 

17 (A) BANKING ORGANIZATION.—The term 

18 ‘‘banking organization’’ means— 

19 (i) an insured depository institution; 

20 (ii) an insured credit union; 

21 (iii) a depository institution holding 

22 company; 

23 (iv) a company that is treated as a 

24 bank holding company for purposes of secVerDate Sep 11 2014 22:46 Nov 09, 2017 Jkt 079200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H4292.IH H4292

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1 tion 8 of the International Banking Act; 

2 and 

3 (v) a U.S. intermediate holding com4 pany established by a foreign banking or5 ganization pursuant to section 252.153 of 

6 title 12, Code of Federal Regulations. 

7 (B) INSURED CREDIT UNION.—The term 

8 ‘‘insured credit union’’ has the meaning given 

9 that term under section 101 of the Federal 

10 Credit Union Act. 

11 (C) OTHER BANKING TERMS.—The terms 

12 ‘‘appropriate Federal banking agency’’, ‘‘deposi13 tory institution holding company’’, and ‘‘insured 

14 depository institution’’ have the meaning given 

15 those terms, respectively, under section 3 of the 

16 Federal Deposit Insurance Act. 

Æ 


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