```

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3329 Enrolled Bill (ENR)]

        H.R.3329

                     One Hundred Thirteenth Congress

                                 of the

                        United States of America

                          AT THE SECOND SESSION

           Begun and held at the City of Washington on Friday,
           the third day of January, two thousand and fourteen

                                 An Act

 
  To enhance the ability of community financial institutions to foster 
  economic growth and serve their communities, boost small businesses, 
          increase individual savings, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. CHANGES REQUIRED TO SMALL BANK HOLDING COMPANY POLICY 
STATEMENT ON ASSESSMENT OF FINANCIAL AND MANAGERIAL FACTORS.
    (a) 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 (hereafter in this Act referred to as the 
``Board'') shall publish in the Federal Register proposed revisions to 
the Small Bank Holding Company Policy Statement on Assessment of 
Financial and Managerial Factors (12 CFR part 225 appendix C) that 
provide that the policy shall apply to bank holding companies and 
savings and loan holding companies which have pro forma consolidated 
assets of less than $1,000,000,000 and that--
        (1) are not engaged in significant nonbanking activities either 
    directly or through a nonbank subsidiary;
        (2) do not conduct significant off-balance sheet activities 
    (including securitization and asset management or administration) 
    either directly or through a nonbank subsidiary; and
        (3) 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.
    (b) Exclusions.--The Board may exclude any bank holding company or 
savings and loan holding company, regardless of asset size, from the 
policy statement under subsection (a) if the Board determines that such 
action is warranted for supervisory purposes.
SEC. 2. CONFORMING AMENDMENT.
    (a) In General.--Subparagraph (C) of section 171(b)(5) of the Dodd-
Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 
5371(b)(5)) is amended to read as follows:
            ``(C) any bank holding company or savings and loan holding 
        company having less than $1,000,000,000 in total consolidated 
        assets that complies with the requirements of the Small Bank 
        Holding Company Policy Statement on Assessment of Financial and 
        Managerial Factors of the Board of Governors (12 CFR part 225 
        appendix C), as the requirements of such Policy Statement are 
        amended pursuant to section 1 of an Act entitled `To enhance 
        the ability of community financial institutions to foster 
        economic growth and serve their communities, boost small 
        businesses, increase individual savings, and for other 
        purposes'.''.
    (b) Transition Period.--Any small bank holding company that was 
excepted from the provisions of section 171 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act pursuant to subparagraph (C) 
of section 171(b)(5) (as such subparagraph was in effect on the day 
before the date of enactment of this Act), and any small savings and 
loan holding company that would have been excepted from the provisions 
of section 171 pursuant to subparagraph (C) (as such subparagraph was 
in effect on the day before the date of enactment of this Act) if it 
had been a small bank holding company, shall be excepted from the 
provisions of section 171 until the effective date of the Small Bank 
Holding Company Policy Statement issued by the Board as required by 
section 1 of this Act.
SEC. 3. DEFINITIONS.
    For the purposes of this Act:
     (a) Bank Holding Company.--The term ``bank holding company'' has 
the same meaning as in section 2 of the Bank Holding Company Act of 
1956 (12 U.S.C. 1841).
    (b) Savings and Loan Holding Company.--The term ``savings and loan 
holding company'' has the same meaning as in section 10(a) of the Home 
Owners' Loan Act (12 U.S.C. 1467a(a)).

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
```