(2) OTHER BANKING DEFINITIONS.—The terms 
‘‘depository institution’’ and ‘‘Federal banking agen-
cies’’ have the same meaning as in section 3 of the 
Federal Deposit Insurance Act. 
SEC. 6. REPORT TO THE CONGRESS ON NON-RENEWALS OF 
COMMERCIAL MORTGAGE LOANS. 
(a) IN GENERAL.—Each qualified financial institu-
tion shall, before the end of the 30-day period beginning 
at the end of each calendar quarter beginning after the 
date of the enactment of this Act, submit to the Board 
with respect to such calendar quarter the aggregate 
amount of permanent commercial mortgage loans that— 
(1) matured during the quarter, but did not 
fully amortize; 
(2) were current prior to maturity; 
(3) had adequate cash flows from the mort-
gaged properties to continue paying interest and 
principal payments in a timely manner if such loans 
were renewed on substantially the same terms and 
conditions; and 
(4) as a result of a suggestion or urging of, or 
a requirement by, a Federal regulator that the insti-
tution reduce its exposure to commercial mortgage 
loans or the determination by the institution to re-
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quire a reduction in the loan-to-value ratio upon any 
renewal of such loans, either— 
(A) were not renewed at maturity under 
substantially the same terms and conditions; or 
(B) were renewed at a lower principal bal-
ance. 
(b) PUBLICATION OF REPORT.— 
(1) IN GENERAL.—Not later than 60 days after 
the end of each calendar quarter for which informa-
tion is submitted pursuant to subsection (a), the 
Board shall publish a report of the— 
(A) the total amount of all permanent 
commercial mortgage loans described in sub-
section (a) reported to the Board under such 
subsection with respect to such quarter; and 
(B) the ratio, expressed as a percentage, 
which such loans in each of the following cat-
egories bear to the average permanent amount 
of all commercial mortgage loans outstanding in 
each such category: 
(i) The United States as a whole. 
(ii) Each State (as defined in section 
3 of the Federal Deposit Insurance Act). 
(iii) Each type of qualified financial 
institution. 
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(iv) Each depository institution hold-
ing company (as determined on a consoli-
dated basis). 
(v) Each qualified financial institution 
that is not controlled by or under common 
control with a depository institution hold-
ing company. 
(2) REPORT TO THE CONGRESS.—Each report 
published under paragraph (1) shall be submitted by 
the Board to the Committee on Financial Services of 
the House of Representatives, the Committee on 
Banking, Housing, and Urban Affairs of the Senate, 
and the Joint Economic Committee of the Congress 
by the time of such publication. 
(3) PUBLIC AVAILABILITY.—Each report pub-
lished under paragraph (1) shall be publicly avail-
able on the website maintained by the Board. 
(c) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
(1) INCORPORATED DEFINITIONS.— 
(A) SECTION 5.—The terms ‘‘Board’’ and 
‘‘depository institution’’ have the same meaning 
as in section 5. 
(B) DEPOSITORY
INSTITUTION
HOLDING 
COMPANY; SUBSIDIARY.—The terms ‘‘depository 
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institution holding company’’ and ‘‘subsidiary’’ 
have the same meanings as in section 3(w) of 
the Federal Deposit Insurance Act. 
(2) QUALIFIED FINANCIAL INSTITUTION.—The 
term ‘‘qualified financial institution’’ means any de-
pository institution and any subsidiary of a deposi-
tory institution or a depository institution holding 
company that makes permanent commercial mort-
gage loans or holds permanent commercial mortgage 
loans, directly or indirectly. 
(3) STATE.—The term ‘‘State’’ has the same 
meaning as in section 3 of the Federal Deposit In-
surance Act. 
(d) SUNSET.—This section shall not apply after 
March 31, 2013. 
SEC. 7. STUDY ABOUT FEDERAL REGULATORS. 
(a) IN GENERAL.—The Secretary of the Treasury 
shall conduct a study to determine— 
(1) whether Federal banking agencies (as de-
fined in section 5) and the Securities and Exchange 
Commission may have exacerbated both— 
(A) the excessive expansion of commercial 
mortgage credit on overly generous terms that 
contributed to a commercial real estate price 
bubble between 2004 and 2007; and 
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(B) the rapid contraction in the availability 
of commercial mortgage credit on reasonable 
terms after the commercial real estate price 
bubble burst through pro-cyclical evaluations of 
the value of collateral by appraisers, depository 
institutions and other financial institutions, and 
Federal banking agencies and the Securities 
and Exchange Commission; 
(2) whether modifications in formulation and 
use of appraisals by appraisers, depository institu-
tions and other financial institutions, and Federal 
banking agencies and the Securities and Exchange 
Commission, including providing greater weight to 
the cash flows associated with mortgaged properties, 
along with any other modifications in regulatory 
practices by Federal banking agencies and the Secu-
rities and Exchange Commission, that the Secretary 
may deem appropriate would reduce this pro-cyclical 
bias and provide a more even flow of commercial 
mortgage credit on reasonable terms throughout the 
business cycle; and 
(3) what, if any, changes to— 
(A) Federal laws or regulations; and 
(B) State laws or regulations, 
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