IB 
Union Calendar No. 504 
115TH CONGRESS 
2D SESSION 
H. R. 2121 
[Report No. 115–656] 
To require the appropriate Federal banking agencies to revise regulations 
to specify that certain funds shall not be taken into account when 
calculating any supplementary leverage ratio for custodial banks, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 25, 2017 
Mr. ROTHFUS (for himself, Mr. FOSTER, and Mr. HULTGREN) introduced the 
following bill; which was referred to the Committee on Financial Services 
APRIL 26, 2018 
Additional sponsors: Mr. LOUDERMILK, Mr. CAPUANO, Mr. MEEKS, Mr. 
BARR, Ms. SINEMA, Ms. VELA´ZQUEZ, Mr. GOTTHEIMER, Mr. LYNCH, Mr. 
ZELDIN, Mr. LUETKEMEYER, Mr. ROSS, Ms. MOORE, Mr. HIMES, Mr. 
HILL, Mr. HUIZENGA, Mr. ROYCE of California, Mr. TIPTON, Mr. BUDD, 
Mr. PITTENGER, Mr. EMMER, Mr. STIVERS, Mr. MCGOVERN, Mr. DONO-
VAN, Ms. CLARK of Massachusetts, Mr. MACARTHUR, Mrs. CAROLYN B. 
MALONEY of New York, Mr. MOONEY of West Virginia, Mr. POLIQUIN, 
Mr. BANKS of Indiana, Ms. TENNEY, Mr. POSEY, Mr. BYRNE, Mr. 
MESSER, Mr. MOULTON, Mr. LOEBSACK, and Mrs. WAGNER 
APRIL 26, 2018 
Reported with amendments, committed to the Committee of the Whole House 
on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on April 25, 2017] 
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A BILL 
To require the appropriate Federal banking agencies to revise 
regulations to specify that certain funds shall not be 
taken into account when calculating any supplementary 
leverage ratio for custodial banks, and for other pur-
poses. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Pension, Endowment, 
and Mutual Fund Access to Banking Act’’. 
SEC. 2. TREATMENT OF FUNDS DEPOSITED WITH A CEN-
TRAL BANK IN CALCULATING THE APPLICA-
BLE SUPPLEMENTARY LEVERAGE RATIO. 
(a) IN GENERAL.—The funds of a custody bank that 
are deposited with a central bank shall not be taken into 
account when calculating the applicable supplementary le-
verage ratio for the custody bank. 
(b) LIMITATIONS.— 
(1) AMOUNTS.—The amount of funds described 
under subsection (a) shall be limited to— 
(A) the total value of deposits of the custody 
bank linked to fiduciary or custodial and safe-
keeping accounts; or 
(B) an amount that is greater than a per-
centage specified by the appropriate Federal 
banking agency of the total leverage exposure of 
the custody bank, based on considerations such 
as the potential impact on the safety and sound-
ness of the custody bank and the ability of the 
custody bank to continue to accept cash deposits 
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from customers that are linked to fiduciary or 
custodial and safekeeping accounts. 
(2) HIGH-QUALITY
CENTRAL
BANK
REQUIRE-
MENTS.—Subsection (a) only applies to central banks 
that are high-quality central banks, including— 
(A) the Federal Reserve System; 
(B) the European Central Bank; and 
(C) central banks of member countries of the 
Organisation for Economic Co-operation and 
Development, if— 
(i) the central bank of such member 
country has been assigned a zero percent 
risk weight under the final rules titled 
‘‘Regulatory 
Capital 
Rules: 
Regulatory 
Capital, Implementation of Basel III, Cap-
ital 
Adequacy, 
Transition 
Provisions, 
Prompt Corrective Action, Standardized 
Approach for Risk-weighted Assets, Market 
Discipline and Disclosure Requirements, 
Advanced Approaches Risk-Based Capital 
Rule, and Market Risk Capital Rule’’ (78 
Fed. Reg. 62018; published Oct. 11, 2013, 
and 79 Fed. Reg. 20754; published April 
14, 2014); and 
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(ii) the sovereign debt of such member 
country is not in default or has not been in 
default during the previous five years. 
(c) REGULATIONS.—Not later than 60 days after the 
date of the enactment of this Act, the appropriate Federal 
banking agencies shall revise applicable regulations to carry 
out this Act. 
(d) DEFINITIONS.—For purposes of this section: 
(1) APPROPRIATE FEDERAL BANKING AGENCY.— 
The term ‘‘appropriate Federal banking agency’’ has 
the meaning given that term under section 3 of the 
Federal Deposit Insurance Act (12 U.S.C. 1813). 
(2) CUSTODY BANK.—The term ‘‘custody bank’’ 
means a depository institution holding company pre-
dominantly engaged in custody, safekeeping, and 
asset servicing activities, including any insured de-
pository institution subsidiary of such a holding com-
pany. 
(3) DEPOSITORY
INSTITUTION
HOLDING
COM-
PANY.—The term ‘‘depository institution holding com-
pany’’ has the meaning given that term under section 
3 of the Federal Deposit Insurance Act (12 U.S.C. 
1813). 
(4) INSURED
DEPOSITORY
INSTITUTION.—The 
term ‘‘insured depository institution’’ has the mean-
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ing given that term under section 3 of the Federal De-
posit Insurance Act (12 U.S.C. 1813). 
(5) SUPPLEMENTARY
LEVERAGE
RATIO.—The 
term ‘‘supplementary leverage ratio’’ means the sup-
plementary leverage ratio, including applicable buff-
ers, surcharges, and well-capitalized requirements re-
lating to such supplementary leverage ratio, as de-
fined by regulation of the appropriate Federal bank-
ing agency in title 12, Code of Federal Regulations, 
as in effect on October 1, 2017. 
Amend the title so as to read: ‘‘A bill to ensure that 
certain funds shall not be taken into account when calcu-
lating any supplementary leverage ratio for custody 
banks, and for other purposes.’’. 
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Union Calendar No. 504 
115TH CONGRESS 
2D SESSION 
H. R. 2121 
[Report No. 115–656] 
A BILL 
To require the appropriate Federal banking agen-
cies to revise regulations to specify that certain 
funds shall not be taken into account when calcu-
lating any supplementary leverage ratio for cus-
todial banks, and for other purposes. 
APRIL 26, 2018 
Reported with amendments, committed to the Committee 
of the Whole House on the State of the Union, and or-
dered to be printed 
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20:41 Apr 26, 2018
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