IIB 

115TH CONGRESS 

2D SESSION H. R. 4292 

IN THE SENATE OF THE UNITED STATES 

FEBRUARY 5, 2018 

Received; read twice and referred to the Committee on Banking, Housing, and 

Urban Affairs 

AN ACT 

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, 


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Financial Institution 

3 Living Will Improvement Act of 2017’’. 

4 SEC. 2. LIVING WILL REFORMS. 

5 (a) IN GENERAL.—Section 165(d) of the Dodd6 Frank Wall Street Reform and Consumer Protection Act 

7 (12 U.S.C. 5365(d)) is amended— 

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

9 and inserting ‘‘every 2 years’’; and 

10 (2) in paragraph (3)— 

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

12 the following: 

13 ‘‘(A) IN GENERAL.—The Board’’; 

14 (B) by striking ‘‘shall review’’ and insert15 ing the following: ‘‘shall— 

16 ‘‘(i) review’’; 

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

18 and’’; and 

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

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

21 month period beginning on the date the 

22 company submits the resolution plan, pro23 vide feedback to the company on such 

24 plan. 

25 ‘‘(B) DISCLOSURE OF ASSESSMENT

26 FRAMEWORK.—The Board of Governors and 


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1 the Corporation shall publicly disclose the as2 sessment framework that is used to review in3 formation under this paragraph.’’. 

4 (b) TREATMENT OF OTHER RESOLUTION PLAN RE5 QUIREMENTS.— 

6 (1) IN GENERAL.—With respect to an appro7 priate Federal banking agency that requires a bank8 ing organization to submit to the agency a resolution 

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

10 Dodd-Frank Wall Street Reform and Consumer Pro11 tection Act— 

12 (A) the respective agency shall ensure that 

13 the review of such resolution plan is consistent 

14 with the requirements contained in the amend15 ments made by this Act; 

16 (B) the agency may not require the sub17 mission of such a resolution plan more often 

18 than every 2 years; and 

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

20 165(d) shall apply to such a resolution plan. 

21 (2) DEFINITIONS.—For purposes of this sub22 section: 

23 (A) APPROPRIATE FEDERAL BANKING

24 AGENCY.—The term ‘‘appropriate Federal 

25 banking agency’’— 


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1 (i) has the meaning given such term 

2 under section 3 of the Federal Deposit In3 surance Act; and 

4 (ii) means the National Credit Union 

5 Administration, in the case of an insured 

6 credit union. 

7 (B) BANKING ORGANIZATION.—The term 

8 ‘‘banking organization’’ means— 

9 (i) an insured depository institution; 

10 (ii) an insured credit union; 

11 (iii) a depository institution holding 

12 company; 

13 (iv) a company that is treated as a 

14 bank holding company for purposes of sec15 tion 8 of the International Banking Act; 

16 and 

17 (v) a U.S. intermediate holding com18 pany established by a foreign banking or19 ganization pursuant to section 252.153 of 

20 title 12, Code of Federal Regulations. 

21 (C) INSURED CREDIT UNION.—The term 

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

23 that term under section 101 of the Federal 

24 Credit Union Act. 


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1 (D) OTHER BANKING TERMS.—The terms 

2 ‘‘depository institution holding company’’ and 

3 ‘‘insured depository institution’’ have the mean4 ing given those terms, respectively, under sec5 tion 3 of the Federal Deposit Insurance Act. 

6 (c) RULE OF CONSTRUCTION.—Nothing in this Act, 

7 or any amendment made by this Act, shall be construed 

8 as limiting the authority of an appropriate Federal bank9 ing agency (as defined under subsection (b)(2)) to obtain 

10 information from an institution in connection with such 

11 agency’s authority to examine or require reports from the 

12 institution. 

Passed the House of Representatives January 30, 

2018. 

Attest: KAREN L. HAAS, 

Clerk. 


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