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‘‘(C)(i) the section 6 holding company re-
quired to be established by such company, or 
any subsidiary bank of such company undergoes 
a change in control after the date of enactment 
of the Financial Stability Improvement Act of 
2009, other than— 
‘‘(I) the merger or whole acquisition 
of such parent company in a bona fide 
merger or acquisition (as shall be deter-
mined by the Board, which is authorized to 
find that a transaction is not a bona fide 
merger or acquisition and thus results in 
the loss of exemption), with a company 
that is predominantly engaged in activities 
not permissible for a financial holding com-
pany pursuant to section 4(k); 
‘‘(II) a change of control of an indus-
trial bank, its section 6 holding company, 
or any entity that directly or indirectly 
controls the industrial bank, in a trans-
action other than a merger described in 
subclause (I), by an acquiring company 
that is predominately engaged in activities 
not permissible for a financial holding com-
pany pursuant to subsection (k), if— 
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‘‘(aa) the transaction is approved 
by the appropriate Federal banking 
agency and the Board; and 
‘‘(bb) the industrial bank does 
not thereafter establish a domestic 
branch as defined in section 3(o) of 
the Federal Deposit Insurance Act 
(12 U.S.C. 1813(o)); 
‘‘(III) an inadvertent acquisition of 
control, as determined by the Board, if 
such inadvertent acquisition of control is 
reversed or rectified within 180 days of its 
discovery; or 
‘‘(IV) the acquisition of additional 
shares by a company that owned or con-
trolled 7.5 percent or more of any class of 
such parent company’s outstanding voting 
stock on or before June 30, 2009, and con-
tinuously owned or controlled at least such 
7.5 percent since June 30, 2009. 
‘‘(ii) Nothing in this subparagraph shall be 
construed as preventing the Board from requir-
ing compliance with this subsection, section 6 
or the requirements of the Change in Bank 
Control Act, as applicable to a company that is 
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permitted to acquire control without loss of the 
exemption in this subsection 4(p)(2); or 
‘‘(D) any subsidiary bank of such company 
engages in any activity after the date of enact-
ment of the Financial Stability Improvement 
Act of 2009 which would have caused such in-
stitution to be a bank (as defined in section 
2(c) of this Act, as in effect before such date) 
if such activities had been engaged in before 
such date. 
‘‘(3) DIVESTITURE IN CASE OF LOSS OF EX-
EMPTION.—If any company described in paragraph 
(1) fails to qualify for the exemption provided under 
paragraph (1) by operation of paragraph (2), such 
exemption shall cease to apply to such company and 
such company shall divest control of each bank it 
controls before the end of the 180-day period begin-
ning on the date on which the company receives no-
tice from the Board that the company has failed to 
continue to qualify for such exemption, unless, be-
fore the end of such 180-day period, the company 
has— 
‘‘(A) either— 
‘‘(i) corrected the condition or ceased 
the activity that caused the company to 
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fail to continue to qualify for the exemp-
tion; or 
‘‘(ii) submitted a plan to the Board 
for approval to cease the activity or correct 
the condition in a timely manner (which 
shall not exceed 1 year); and 
‘‘(B) implemented procedures that are rea-
sonably adapted to avoid the reoccurrence of 
such condition or activity. 
‘‘(4) SUBSECTION
CEASES
TO
APPLY
UNDER 
CERTAIN
CIRCUMSTANCES.—This subsection shall 
cease to apply to any company described in para-
graph (1) if such company— 
‘‘(A) registers as a bank holding company 
under section 2(a) of this Act; 
‘‘(B) immediately upon such registration, 
complies with all of the requirements of this 
chapter, and regulations prescribed by the 
Board pursuant to this chapter, including the 
nonbanking restrictions of this section; and 
‘‘(C) does not, at the time of such registra-
tion, control banks in more than one State, the 
acquisition of which would be prohibited by sec-
tion 3(d) of this Act if an application for such 
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acquisition by such company were filed under 
section 3(a) of this Act. 
‘‘(5) INFORMATION REQUIREMENT.—Each com-
pany described in paragraph (1) shall, within 60 
days after the date of enactment of the Financial 
Stability Improvement Act of 2009, provide the 
Board with the name and address of such company, 
the name and address of each bank such company 
controls, and a description of each such bank’s ac-
tivities. 
‘‘(6) 
EXAMINATIONS
AND
REPORTS.—The 
Board may, from time to time, examine a company 
described in paragraph (1) or a bank controlled by 
such a company, and may require reports under 
oath from a company described in paragraph (1), 
and appropriate officers or directors of such com-
pany, in each case solely for purposes of assuring 
compliance with the provisions of this subsection and 
enforcing such compliance. 
‘‘(7) LIMITED ENFORCEMENT.— 
‘‘(A) IN
GENERAL.—In addition to any 
other power of the Board, the Board may en-
force compliance with the provisions of this sub-
section which are applicable to any company de-
scribed in paragraph (1), and any bank con-
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trolled by such company, under section 8 of the 
Federal Deposit Insurance Act, and such com-
pany or bank shall be subject to such section 
(for such purposes) in the same manner and to 
the same extent as if such company were a 
bank holding company. 
‘‘(B) APPLICATION OF OTHER ACT.—Any 
violation of this subsection by any company de-
scribed in paragraph (1) or any bank controlled 
by such a company, may also be treated as a 
violation of the Federal Deposit Insurance Act 
for purposes of subparagraph (A). 
‘‘(C) NO
EFFECT
ON
OTHER
AUTHOR-
ITY.—No provision of this paragraph shall be 
construed as limiting any authority of the 
Board or any other Federal agency under any 
other provision of law. 
‘‘(8) UNITARY
SAVINGS
AND
LOAN
HOLDING 
COMPANY
DEFINED.—For purposes of this sub-
section, the term ‘unitary savings and loan holding 
company’ means a company that was a savings and 
loan holding company on May 4, 1999 (as then de-
fined), or that became a savings and loan holding 
company pursuant to an application pending before 
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the Office of Thrift Supervision on or before that 
date, and— 
‘‘(A) that controls— 
‘‘(i) only 1 savings association; or 
‘‘(ii) more than 1 savings association, 
if all, or all but 1, of the savings associa-
tion subsidiaries of such company were ini-
tially acquired by the company pursuant to 
a supervisory transaction under section 
1823(c), 1823(i), or 1823(k) of this title, 
or section 408(m) of the National Housing 
Act (12 U.S.C. 1730a(m)); 
‘‘(B) all of the savings association subsidi-
aries of such company are qualified thrift lend-
ers (as determined under section 10 of the 
Home Owners’ Loan Act); and 
‘‘(C) that continues to control not fewer 
than 1 savings association that it controlled on 
May 4, 1999, or that it acquired pursuant to an 
application pending before the Office of Thrift 
Supervision on or before that date. 
‘‘(q) PRESERVATION
OF CERTAIN SAVINGS
AND 
LOAN
HOLDING
COMPANY
AUTHORITIES.—Notwith-
standing subsection (a), a company that was a savings and 
loan holding company on June 30, 2009, that became a 
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bank holding company by operation of section 1301 of the 
Financial Stability Improvement Act of 2009 may con-
tinue to engage in the following activities in which such 
company was continuously engaged on June 30, 2009, 
through the day of enactment of the Financial Stability 
Improvement Act of 2009: 
‘‘(1) Furnishing or performing management 
services for a savings association subsidiary of such 
company. 
‘‘(2) Conducting an insurance agency or escrow 
business. 
‘‘(3) Holding, managing, or liquidating assets 
owned or acquired from a savings association sub-
sidiary of such company. 
‘‘(4) Holding or managing properties used or 
occupied by a savings association subsidiary of such 
company. 
‘‘(5) Acting as trustee under deed of trust. 
‘‘(6) Any other activity in which multiple sav-
ings and loan holding companies were authorized (by 
regulation) to directly engage on March 5, 1987.’’. 
(c) SECTION 6 HOLDING COMPANIES.—The Bank 
Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) 
is amended by inserting after section 5 the following new 
section: 
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‘‘SEC. 6. SPECIAL-PURPOSE HOLDING COMPANIES. 
‘‘(a) ESTABLISHMENT, PURPOSE
AND
REQUIRE-
MENTS OF SPECIAL PURPOSE HOLDING COMPANIES.— 
‘‘(1) REQUIREMENT.—A special purpose hold-
ing company (hereafter in this section referred to as 
a ‘section 6 holding company’) shall be established 
and maintained by a company— 
‘‘(A) described in section 4(f)(1) as re-
quired by section 4(f)(2)(D) of this Act; 
‘‘(B) described in section 4(p)(1) as re-
quired by section 4(p)(2)(A) of this Act; or 
‘‘(C) that— 
‘‘(i) is subject to stricter prudential 
standards under section 1103 of the Fi-
nancial Stability Improvement Act of 
2009; 
‘‘(ii) is not— 
‘‘(I) a bank holding company; or 
‘‘(II) subject to the Bank Hold-
ing Company Act by reason of section 
8(a) of the International Banking Act 
of 1978 (12 U.S.C. 3106(a)); and 
‘‘(iii) directly or indirectly controlled 
shares or engaged in activities that did 
not, on the date the company is first sub-
ject to stricter prudential standards pursu-
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ant to subtitle B of the Financial Stability 
Improvement Act of 2009, comply with the 
activity or investment restrictions on finan-
cial holding companies in section 4 in ac-
cordance with regulations prescribed by the 
Board. 
‘‘(2) PURPOSE.— 
‘‘(A) The purpose of this section is to pro-
vide for consolidated supervision of certain fi-
nancial companies by the Board. 
‘‘(B) A company that is required to form 
a section a section 6 holding company shall con-
duct all such activities which are permissible for 
a financial holding company, as determined 
under section 4(k), through such section 6 hold-
ing company, other than— 
‘‘(i) internal financial activities con-
ducted for such company or any affiliate, 
including, but not limited to internal treas-
ury, investment, and employee benefit 
functions, provided that with respect to 
any internal financial activity engaged in 
for the company or an affiliate and a non-
affiliate during the year prior to date of 
enactment, the company (or an affiliate 
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not a subsidiary of the section 6 company) 
may continue to engage in that activity so 
long as the at least 2⁄3 of the assets or 2⁄3 
of the revenues generated from the activity 
are from or attributable to the company or 
an affiliate, subject to review by the Board 
to determine whether engaging in such ac-
tivity presents undue risk to the section 6 
company or undue systemic risk; and 
‘‘(ii) financial activities involving the 
provision of credit for the purchase or 
lease of products or services from an affil-
iate or for the purchase or lease of prod-
ucts produced by an affiliate of such sec-
tion 6 holding company that is not a sub-
sidiary of such section 6 holding company, 
in accordance with regulations prescribed 
by or orders issued by the Board, pursuant 
to section 6 of this Act. 
‘‘(C) A section 6 holding company shall be 
prohibited from conducting any nonbanking ac-
tivities or investing in any nonbank companies 
other than those permissible for a financial 
holding company under sections 3 and 4, unless 
the Board specifically determines otherwise in 
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accordance with paragraph (6), and provided 
that, for purposes of this paragraph, a company 
designated as a section 6 holding company and 
described under paragraph (4) (or any per-
mitted successor) is not prohibited from con-
tinuing to engage in any impermissible activity 
in which it was engaged continuously during the 
6 months prior to the date of enactment, from 
owning any shares or types of assets related to 
such activity, or continuing to own such other 
shares or assets that it owned on the date of 
enactment. 
‘‘(3) REGISTRATION.— 
‘‘(A) A section 6 holding company required 
to be established by a company described in 
paragraph (1)(A) shall be established, and such 
company shall register with the Board as a 
bank holding company, pursuant to the require-
ments in section 4(f). 
‘‘(B) A section 6 holding company required 
to be established by a company described in 
paragraph (1)(B) shall be established, and such 
company shall register with the Board as a 
bank holding company, pursuant to the require-
ments in section 4(p). 
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‘‘(C) A section 6 holding company required 
to be established by a company described in 
paragraph (1)(C) shall be— 
‘‘(i) established, and such company 
shall register with the Board within 90 
days after such company or such com-
pany’s parent holding company has been 
notified by the Board that such company is 
subject to stricter prudential standards 
under section 1103 of the Financial Sta-
bility Improvement Act of 2009, unless the 
Board grants an extension of such period 
for compliance which shall not exceed 180 
additional days; 
‘‘(ii) subject to the provisions of this 
Act and other Federal law as provided in 
section 1103(g) of the Financial Stability 
Improvement Act of 2009; and 
‘‘(iii) subject to the authority of the 
Board to enforce compliance with the pro-
visions of this section under section 8 of 
the Federal Deposit Insurance Act in the 
same manner and to the same extent as if 
such company were a bank holding com-
pany. 
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‘‘(4) RULE OF CONSTRUCTION.—For purposes 
of this section, designation of an already established 
intermediate holding company that will serve as the 
section 6 holding company shall satisfy the require-
ment to establish a section 6 holding company, pro-
vided that such existing intermediate holding com-
pany complies with all other provisions applicable to 
a section 6 holding company. 
‘‘(5) LIMITATIONS ON AUTHORITY OF COMMER-
CIAL PARENT.—A company that is not a bank hold-
ing company or treated as a bank holding company 
pursuant to section 8(a) of the International Bank 
Act of 1978 that has been notified that it is a finan-
cial holding company subject to stricter standards, 
pursuant to section 1103 of the Financial Stability 
Improvement Act of 2009, shall— 
‘‘(A) not be deemed to be, or treated as, a 
bank holding company, solely because of its 
ownership or control of a section 6 holding com-
pany; and 
‘‘(B) not be subject to this Act, except for 
such provisions as are explicitly made applicable 
in this section. 
‘‘(6) BOARD AUTHORITY.— 
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‘‘(A) RULES AND EXEMPTIONS.—In addi-
tion to any other authority of the Board, the 
Board shall prescribe rules and regulations or 
issue orders providing for the establishment and 
registration of section 6 holding companies and 
shall provide exemptions from the requirements 
of this Act (including an order in response to 
a request from an affected company), including, 
but not limited to, exemptions— 
‘‘(i) with respect to the requirement to 
conduct such activities which are financial 
in nature, as determined under section 
4(k), other than financial activities con-
ducted for such company or any affiliate, 
including any financial activity engaged in 
for both the company or an affiliate and a 
nonaffiliate as permitted under section 
4(f)(2)(D) or section 6(a)(2)(B) and finan-
cial activities involving the provision of 
credit for the purchase or lease of products 
or services from an affiliate or for the pur-
chase or lease of products produced by an 
affiliate of such section 6 holding company 
that is not a subsidiary of such section 6 
holding company, through such section 6 
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holding company, if the Board makes a 
finding that such exemption— 
‘‘(I)(aa) would facilitate the ex-
tension of credit to individuals, house-
holds, and businesses; or 
‘‘(bb) would allow for greater ef-
ficiency, improved customer service, or 
other public benefits in the conduct of 
financial activities by affected compa-
nies; 
‘‘(II) would not threaten the 
safety and soundness of the section 6 
holding company, or of any insured 
depository institution or other sub-
sidiary of the section 6 holding com-
pany; 
‘‘(III) would not increase sys-
temic risk or threaten the stability of 
the overall financial system; 
‘‘(IV) would not, as applied to 
the activities that are the subject of 
the rule, order or request, result in 
substantially lessening competition, or 
to tend to create a monopoly, or which 
in any other manner would be in re-
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straint of trade, unless the Board 
finds that the anticompetitive effects 
are outweighed in the public interest 
by the probable effect of the exemp-
tion in meeting the convenience and 
needs of the community to be served; 
and 
‘‘(V) would meet the financial 
and managerial standards for finan-
cial holding companies described in 
subparagraphs (A) and (B) of section 
4(j)(4); and 
‘‘(ii) from the affiliate transaction re-
quirements of subsection (b), including but 
not limited to exemptions that would facili-
tate extensions of credit to unaffiliated 
persons for the personal, household, or 
business purposes of such unaffiliated per-
sons, unless the Board makes a finding 
that such exemption— 
‘‘(I) is not consistent with the 
purposes of section 23A and section 
23B of the Federal Reserve Act; 
‘‘(II) would threaten the safety 
and soundness of the section 6 hold-
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ing company, or any insured deposi-
tory institution or other subsidiary of 
the section 6 holding company; 
‘‘(III) would increase systemic 
risk or threaten the stability of the 
overall financial system; 
‘‘(IV) would not, as applied to 
the activities that are the subject of 
the rule, order or request result in 
substantially lessening competition, or 
to tend to create a monopoly, or which 
in any other manner would be in re-
straint of trade, unless the Board 
finds that the anticompetitive effects 
are outweighed in the public interest 
by the probable effect of the exemp-
tion in meeting the convenience and 
needs of the community to be served; 
or 
‘‘(V) would permit an unfair, de-
ceptive, abusive, or unsafe-and-un-
sound act or practice. 
‘‘(B) PARENT
COMPANY
REPORTS.—The 
Board may, from time to time, require reports 
under oath from a company that controls a sec-
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tion 6 holding company, and appropriate offi-
cers or directors of such company, solely for 
purposes of ensuring compliance with the provi-
sions of this section (including assessing the 
company’s ability to serve as a source of finan-
cial strength pursuant to subsection (g)) and 
enforcing such compliance. 
‘‘(C) LIMITED
PARENT
COMPANY
EN-
FORCEMENT.— 
‘‘(i) IN GENERAL.—In addition to any 
other power of the Board, the Board may 
enforce compliance with the provisions of 
this subsection which are applicable to any 
company described in paragraph (1), and 
any bank controlled by such company, 
under section 8 of the Federal Deposit In-
surance Act and such company or bank 
shall be subject to such section (for such 
purposes) in the same manner and to the 
same extent as if such company were a 
bank holding company. 
‘‘(ii) APPLICATION OF OTHER ACT.— 
Any violation of this subsection by any 
company that controls a section 6 holding 
company or any bank controlled by such a 
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company, may also be treated as a viola-
tion of the Federal Deposit Insurance Act 
for purposes of clause (i). 
‘‘(iii) NO EFFECT ON OTHER AUTHOR-
ITY.—No provision of this subparagraph 
shall be construed as limiting any author-
ity of the Board or any other Federal 
agency under any other provision of law. 
‘‘(b) 
RESTRICTIONS
ON
AFFILIATE
TRANS-
ACTIONS.— 
‘‘(1) SECTION 23A AND 23B APPLICABILITY.— 
‘‘(A) IN GENERAL.—Transactions between 
a section 6 holding company (or any nonbank 
subsidiary thereof) and any affiliate not con-
trolled by the section 6 holding company shall 
be subject to the restrictions and limitations 
contained in section 23A and section 23B of the 
Federal Reserve Act as if the section 6 holding 
company were a member bank, provided, that a 
transaction that otherwise would be a covered 
transaction shall not be a covered transaction if 
the transaction is in connection with the bona 
fide acquisition or lease by an unaffiliated per-
son of assets, goods or services but shall be sub-
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ject to review under section 23A(f)(1) of such 
Act. 
‘‘(B) COVERED TRANSACTIONS.—A deposi-
tory institution controlled by a section 6 holding 
company may not engage in a covered trans-
action (as defined in section 23A(b)(7) of the 
Federal Reserve Act) with any affiliate that is 
not the section 6 holding company or a sub-
sidiary of the section 6 holding company; pro-
vided that, for purposes of the prohibition, a 
transaction that otherwise would be a covered 
transaction shall not be a covered transaction if 
the transaction is in connection with the bona 
fide acquisition or lease by an unaffiliated per-
son of assets, goods or services, but shall be 
subject to review under section 23A(f)(1) of the 
Federal Reserve Act. 
‘‘(2) RULE OF CONSTRUCTION.—No provision 
of this subsection shall be construed as exempting 
any subsidiary insured depository institution of a 
section 6 holding company from compliance with sec-
tion 23A or 23B of the Federal Reserve Act with re-
spect to each affiliate of such institution (as defined 
in section 23A or 23B of the Federal Reserve Act), 
including any affiliate that is the section 6 holding 
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company or subsidiary of the section 6 holding com-
pany. 
‘‘(c) TYING PROVISIONS.—A company that directly or 
indirectly controls a section 6 holding company shall be— 
‘‘(1) treated as a bank holding company for 
purposes of section 106 of the Bank Holding Com-
pany Act Amendments of 1970 and section 22(h) of 
the Federal Reserve Act and any regulation pre-
scribed under any such section; and 
‘‘(2) subject to the restrictions of section 106 of 
the Bank Holding Company Act Amendments of 
1970, in connection with any transaction involving 
the products or services of such company or affiliate 
and those of a bank affiliate, as if such company or 
affiliate were a bank and such bank were a sub-
sidiary of a bank holding company. 
‘‘(d) FINANCIAL
HOLDING
COMPANY
REQUIRE-
MENTS.—A section 6 holding company shall be subject 
to— 
‘‘(1) the conditions for engaging in expanded fi-
nancial activities in section 4(l); and 
‘‘(2) the provisions applicable to financial hold-
ing companies that fail to meet certain requirements 
in section 4(m). 
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‘‘(e) INDEPENDENCE OF SECTION 6 HOLDING COM-
PANY.— 
‘‘(1) No less than 25 percent of the members 
of the board of directors of a section 6 holding com-
pany, and each subsidiary of a section 6 holding 
company, shall be independent of the parent com-
pany of the section 6 holding company and any sub-
sidiary of such parent company. For purposes of this 
subsection, a director shall be independent of the 
parent company if such person is not currently serv-
ing, and has not within the previous 2-year period 
served, as a director, officer, or employee of any af-
filiate of the section 6 holding company that is not 
a subsidiary of the section 6 holding company. 
‘‘(2) No executive officer of a section 6 holding 
company or any subsidiary of a section 6 holding 
company may serve as a director, officer, or em-
ployee of an affiliate of the section 6 holding com-
pany that is not a subsidiary of the section 6 holding 
company. 
‘‘(3) The Board shall issue regulations that re-
quire effective legal and operational separation of 
the functions of a section 6 holding company from 
its affiliates that are not subsidiaries of such section 
6 holding company, provided, however that such 
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rules shall not require operational separation of in-
ternal functions including, but not limited to, human 
resources management, employee benefit plans, and 
information technology. 
‘‘(f) SOURCE OF STRENGTH.—A company that di-
rectly or indirectly controls a section 6 holding company 
shall serve as a source of financial strength to its sub-
sidiary section 6 holding company.’’. 
SEC. 1302. REGISTRATION OF CERTAIN COMPANIES AS 
BANK HOLDING COMPANIES. 
Section 5 of the Bank Holding Company Act of 1956 
(12 U.S.C. 1844) is amended by inserting at the end the 
following new subsection: 
‘‘(h) CONVERSION TO BANK HOLDING COMPANY BY 
OPERATION OF LAW.— 
‘‘(1) CONVERSION BY OPERATION OF LAW.—A 
company that, on the day before the date of enact-
ment of the Financial Stability Improvement Act of 
2009, was not a bank holding company but which, 
by reason of section 1301 of the Financial Stability 
Improvement Act of 2009 becomes a bank holding 
company, other than a section 6 holding company, 
by operation of law, shall register as a bank holding 
company with the Board in accordance with section 
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5(a) within 90 days of the date of enactment of that 
Act. 
‘‘(2) COMPLIANCE WITH BANK HOLDING COM-
PANY ACT.—With respect to any company described 
in paragraph (1), the Board may grant temporary 
exemptions or provide other appropriate temporary 
relief to permit such company to implement meas-
ures necessary to comply with the requirements 
under the Bank Holding Company Act.’’. 
SEC. 1303. REPORTS AND EXAMINATIONS OF BANK HOLD-
ING COMPANIES; REGULATION OF FUNCTION-
ALLY REGULATED SUBSIDIARIES. 
(a) REPORTS OF BANK HOLDING COMPANIES.—Sec-
tions 5(c)(1)(A) and (B) of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1844(c)(1)(A) and (B)) are 
amended to read as follows: 
‘‘(A) IN GENERAL.—The Board, from time 
to time, may require a bank holding company 
and any subsidiary of such company to submit 
reports under oath that the Board determines 
are necessary or appropriate for the Board to 
carry out the purposes of this chapter, prevent 
evasions thereof, and monitor compliance by the 
company or subsidiary with the applicable pro-
visions of law. 
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action involving two or more insured depository 
institutions if the resulting insured depository 
institution (including all insured depository in-
stitutions which are affiliates of such institu-
tion), upon consummation of the transaction 
would control more than 10 percent of the total 
amount of deposits of insured depository insti-
tutions in the United States.’’. 
(c) AMENDMENTS TO THE HOME OWNERS’ LOAN 
ACT.—Section 10(e)(2) of the Home Owners’ Loan Act 
(12 U.S.C. 467a(e)(2)) is amended— 
(1) by striking ‘‘or’’ at the end of subparagraph 
(C); and 
(2) by striking the period at the end of sub-
paragraph (D), the following new subparagraph: 
‘‘(E) in the case of an application involving 
an interstate acquisition, if the applicant (in-
cluding all insured depository institutions which 
are affiliates of the applicant) controls, or upon 
consummation of the acquisition for which such 
application is filed would control, more than 10 
percent of the total amount of deposits of in-
sured depository institutions in the United 
States.’’. 
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