SEC. 2. REPEAL OF DESIGNATION AUTHORITY UNDER THE 
FINANCIAL STABILITY ACT OF 2010. 
(a) IN GENERAL.—The Dodd Frank Wall Street Re-
form and Consumer Protection Act (Public Law 111–203) 
is amended— 
(1) in section 102 (12 U.S.C. 5311)— 
(A) in subsection (a)— 
(i) by striking paragraph (4); and 
(ii) by amending paragraph (7) to 
read as follows: 
‘‘(7) SIGNIFICANT BANK HOLDING COMPANY.— 
The term ‘significant bank holding company’ has the 
meanings given to it by rule of the Board of Gov-
ernors.’’; and 
(B) by striking subsection (c); 
(2) in section 112 (12 U.S.C. 5322)— 
(A) in subsection (a)— 
(i) in paragraph (1)(A), by striking 
‘‘or nonbank financial companies’’; and 
(ii) in paragraph (2)— 
(I) in subparagraph (A), by strik-
ing ‘‘and nonbank financial compa-
nies’’; 
(II) by striking subparagraphs 
(H) and (J); 
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(III) by redesignating subpara-
graphs (I), (K), (L), (M), and (N) as 
subparagraphs (H), (I), (J), (K), and 
(L), respectively; 
(IV) in subparagraph (H), as so 
redesignated, by striking ‘‘nonbank fi-
nancial companies and’’; 
(V) in subparagraph (I), as so re-
designated, by striking ‘‘, nonbank fi-
nancial companies,’’; and 
(VI) in subparagraph (L), as so 
redesignated— 
(aa) by striking clause (iv); 
and 
(bb) 
by 
redesignating 
clauses (v) and (vi) as clauses 
(iv) and (v), respectively; and 
(B) in subsection (d)— 
(i) in paragraph (3)— 
(I) in subparagraph (A), by strik-
ing ‘‘nonbank financial company or’’ 
each place such term appears; 
(II) in subparagraph (B), by 
striking ‘‘nonbank financial company 
or’’; and 
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(III) in subparagraph (C), by 
striking ‘‘foreign nonbank financial 
company or’’; and 
(ii) by striking paragraph (4); 
(3) by striking sections 113 (12 U.S.C. 5323), 
114 (12 U.S.C. 5324), 161 (12 U.S.C. 5361), 162 
(12 U.S.C. 5362), 164 (12 U.S.C. 5364), 167 (12 
U.S.C. 5367), 170 (12 U.S.C. 5370), 216 (124 Stat. 
1519), and 217 (124 Stat. 1519); 
(4) in section 115 (12 U.S.C. 5325)— 
(A) in the heading for such section, by 
striking ‘‘NONBANK FINANCIAL COMPANIES 
SUPERVISED
BY
THE
BOARD
OF
GOV-
ERNORS AND’’; 
(B) in subsection (a)(1)— 
(i) by striking ‘‘nonbank financial 
companies supervised by the Board of Gov-
ernors and’’; and 
(ii) in subparagraph (A), by striking 
‘‘nonbank financial companies and’’; 
(C) in subsection (b)— 
(i) in paragraph (2)— 
(I) in the heading for such para-
graph, by striking ‘‘FINANCIAL COM-
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PANIES’’ and inserting ‘‘BANK HOLD-
ING COMPANIES’’; 
(II) by striking ‘‘foreign nonbank 
financial companies supervised by the 
Board of Governors or’’; and 
(III) in subparagraph (B), by 
striking ‘‘foreign nonbank financial 
company or’’; and 
(ii) in paragraph (3)— 
(I) in subparagraph (A)— 
(aa) by striking ‘‘nonbank 
financial companies supervised by 
the Board of Governors and’’; 
and 
(bb) in clause (i), by insert-
ing before the semicolon the fol-
lowing: ‘‘(as in effect on the day 
before the date of the enactment 
of the Terminating the Expan-
sion of Too-Big-To-Fail Act of 
2012)’’; and 
(II) in subparagraph (B), by in-
serting after ‘‘section 113’’ the fol-
lowing: ‘‘(as in effect on the day be-
fore the date of the enactment of the 
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Terminating the Expansion of Too- 
Big-To-Fail Act of 2012)’’; 
(D) in subsection (c)— 
(i) in paragraph (1), by striking 
‘‘nonbank financial companies supervised 
by the Board of Governors and’’; and 
(ii) in paragraph (3)— 
(I) in subparagraph (A), by strik-
ing ‘‘any nonbank financial company 
supervised by the Board of Governors 
and’’; and 
(II) in subparagraph (B)(iii), by 
striking ‘‘a nonbank financial com-
pany supervised by the Board of Gov-
ernors or’’; 
(E) in subsection (d)— 
(i) in paragraph (1), by striking ‘‘each 
nonbank financial company supervised by 
the Board of Governors and’’; and 
(ii) in paragraph (2)— 
(I) by striking ‘‘nonbank finan-
cial company supervised by the Board 
of Governors and’’; and 
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(II) 
by 
striking 
‘‘significant 
nonbank financial companies and’’ 
each place such term appears; 
(F) in subsection (e), by striking ‘‘nonbank 
financial companies supervised by the Board of 
Governors or’’; 
(G) in subsection (f), by striking ‘‘and by 
nonbank financial companies supervised by the 
Board of Governors’’; and 
(H) in subsection (g), by striking ‘‘, 
nonbank financial companies supervised by the 
Board of Governors,’’; 
(5) in section 116 (12 U.S.C. 5326)— 
(A) in subsection (a), by striking ‘‘or a 
nonbank financial company supervised by the 
Board of Governors’’; and 
(B) in subsection (b)— 
(i) in paragraph (1)(A), by striking ‘‘, 
nonbank financial company supervised by 
the Board of Governors,’’; and 
(ii) in paragraph (2), by striking ‘‘and 
nonbank financial company supervised by 
the Board of Governors’’; 
(6) in section 117 (12 U.S.C. 5327)— 
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(A) in subsection (b), by striking ‘‘such en-
tity shall be treated as a nonbank financial 
company supervised by the Board of Governors, 
as if the Council had made a determination 
under section 113 with respect to that entity’’ 
and inserting ‘‘for purposes of this title, such 
entity shall be treated as a bank holding com-
pany 
with 
total 
consolidated 
assets 
of 
$50,000,000,000’’; and 
(B) in subsection (c)— 
(i) in paragraph (1), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors’’ and inserting ‘‘a 
bank holding company with total consoli-
dated assets of $50,000,000,000’’; and 
(ii) in paragraph (2), by striking sub-
paragraph (C); 
(7) in section 119(a) (12 U.S.C. 5329(a)), by 
striking ‘‘, nonbank financial company,’’; 
(8) in section 120 (12 U.S.C. 5330)— 
(A) in subsection (a)— 
(i) by striking ‘‘or nonbank financial 
companies’’; and 
(ii) by striking ‘‘and nonbank finan-
cial companies’’; and 
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(B) in subsection (d)— 
(i) in paragraph (1), by adding ‘‘and’’ 
at the end; 
(ii) in paragraph (2), by striking ‘‘; 
and’’ and inserting a period; and 
(iii) by striking paragraph (3); 
(9) in section 121 (12 U.S.C. 5331)— 
(A) in subsection (a), by striking ‘‘, or a 
nonbank financial company supervised by the 
Board of Governors,’’; 
(B) in subsection (c), by inserting after 
‘‘section 113’’ the following: ‘‘(as in effect on 
the day before the date of the enactment of the 
Terminating the Expansion of Too-Big-To-Fail 
Act of 2012)’’; and 
(C) in subsection (d)— 
(i) in the heading for such subsection, 
by striking ‘‘FOREIGN FINANCIAL COMPA-
NIES’’ and inserting ‘‘FOREIGN-BASED 
BANK HOLDING COMPANIES’’; 
(ii) by striking ‘‘foreign nonbank fi-
nancial companies supervised by the Board 
of Governors and’’; and 
(iii) by amending paragraph (2) to 
read as follows: 
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‘‘(2) taking into account the extent to which the 
foreign-based bank holding company is subject on a 
consolidated basis to home country standards that 
are comparable to those applied to bank holding 
companies in the United States.’’; 
(10) in the heading for subtitle C, by striking 
‘‘Certain Nonbank Financial Companies 
and’’; 
(11) in section 155(d) (12 U.S.C. 5345(d)), by 
striking ‘‘and nonbank financial companies super-
vised by the Board of Governors’’; 
(12) in section 163 (12 U.S.C. 5363)— 
(A) by striking subsection (a), 
(B) by redesignating subsection (b) as sub-
section (a); and 
(C) in subsection (a), as so redesignated, 
by striking ‘‘or a nonbank financial company 
supervised by the Board of Governors’’ each 
place such term appears; 
(13) in section 165 (12 U.S.C. 5365)— 
(A) in the heading for such section, by 
striking ‘‘NONBANK FINANCIAL COMPANIES 
SUPERVISED
BY
THE
BOARD
OF
GOV-
ERNORS AND’’; 
(B) in subsection (a)(1)— 
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(i) by striking ‘‘nonbank financial 
companies supervised by the Board of Gov-
ernors and’’; and 
(ii) in subparagraph (A), by striking 
‘‘nonbank financial companies and’’; 
(C) in subsection (b)— 
(i) in paragraph (1), by striking 
‘‘nonbank financial companies supervised 
by the Board of Governors and’’ each place 
such term appears; 
(ii) in paragraph (2)— 
(I) in the heading for such para-
graph, by striking ‘‘FOREIGN FINAN-
CIAL
COMPANIES’’ 
and 
inserting 
‘‘FOREIGN-BASED
BANK
HOLDING 
COMPANIES’’; 
(II) by striking ‘‘foreign nonbank 
financial company supervised by the 
Board of Governors or’’; and 
(III) in subparagraph (B)— 
(aa) by striking ‘‘foreign fi-
nancial company’’ and inserting 
‘‘foreign-based bank holding com-
pany’’; and 
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(bb) by striking ‘‘financial 
companies’’ and inserting ‘‘bank 
holding companies’’; 
(iii) in paragraph (3)— 
(I) by inserting after ‘‘section 
113’’ each place such term appears 
the following: ‘‘(as in effect on the day 
before the date of the enactment of 
the Terminating the Expansion of 
Too-Big-To-Fail Act of 2012)’’; and 
(II) in subparagraph (A), by 
striking ‘‘nonbank financial companies 
supervised by the Board of Governors 
and’’; and 
(iv) in paragraph (4), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
(D) in subsection (c)— 
(i) in paragraph (1)— 
(I) by striking ‘‘nonbank finan-
cial company supervised by the Board 
of Governors and’’; and 
(II) by striking ‘‘bank holding 
companies’’ and inserting ‘‘bank hold-
ing company’’; and 
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(ii) in paragraph (2)(D), by striking 
‘‘nonbank financial company supervised by 
the Board of Governors or a’’; 
(E) in subsection (d)— 
(i) by striking ‘‘nonbank financial 
company supervised by the Board of Gov-
ernors and’’ each place such term appears; 
(ii) in paragraph (1), by striking 
‘‘bank holding companies’’ and inserting 
‘‘bank holding company’’; 
(iii) in paragraph (2)— 
(I) 
by 
striking 
‘‘significant 
nonbank financial companies and’’ 
each place such term appears; and 
(II) by striking ‘‘bank holding 
companies’’ and inserting ‘‘bank hold-
ing company’’; 
(iv) in paragraph (4), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
(v) in paragraph (5), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’ each place 
such term appears; and 
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(vi) in paragraph (6), by striking ‘‘the 
nonbank financial company supervised by 
the Board, any bank holding company, or 
any subsidiary or affiliate of the foregoing’’ 
and inserting ‘‘any bank holding company 
or any subsidiary or affiliate of the bank 
holding company’’; 
(F) in subsection (e)— 
(i) in paragraph (1), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
(ii) in paragraph (2), by striking 
‘‘nonbank financial company supervised by 
the Board of Governors and’’; 
(iii) in paragraph (3), by striking ‘‘the 
nonbank financial company supervised by 
the Board of Governors or’’ each place 
such term appears; and 
(iv) in paragraph (4), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
(G) in subsection (f), by striking ‘‘nonbank 
financial companies supervised by the Board of 
Governors and’’; 
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(H) in subsection (g)(1), by striking ‘‘and 
any nonbank financial company supervised by 
the Board of Governors’’; 
(I) in subsection (h)— 
(i) by striking paragraph (1); 
(ii) by redesignating paragraphs (2) 
and (3) as paragraphs (1) and (2), respec-
tively; 
(iii) in paragraph (1), as so redesig-
nated, by striking ‘‘paragraph (3)’’ each 
place such term appears and inserting 
‘‘paragraph (2)’’; and 
(iv) in paragraph (2), as so redesig-
nated, by striking ‘‘nonbank financial com-
pany supervised by the Board of Governors 
or’’ each place such term appears; 
(J) in subsection (i)— 
(i) in paragraph (1)— 
(I) in subparagraph (A), by strik-
ing ‘‘nonbank financial companies su-
pervised by the Board of Governors 
and’’; and 
(II) in subparagraph (B), by 
striking ‘‘and nonbank financial com-
panies’’; and 
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(ii) in paragraph (2)(A), by striking 
‘‘nonbank financial company supervised by 
the Board of Governors and a’’; 
(K) in subsection (j)— 
(i) in paragraph (1), by striking ‘‘or a 
nonbank financial company supervised by 
the Board of Governors’’; and 
(ii) in paragraph (2), by inserting 
after ‘‘section 113’’ the following: ‘‘(as in 
effect on the day before the date of the en-
actment of the Terminating the Expansion 
of Too-Big-To-Fail Act of 2012)’’; and 
(L) in subsection (k)(1), by striking ‘‘or 
nonbank financial company supervised by the 
Board of Governors’’; 
(14) in section 166 (12 U.S.C. 5366), by strik-
ing ‘‘a nonbank financial company supervised by the 
Board of Governors or’’ each place such term ap-
pears; 
(15) in section 169 (12 U.S.C. 5369), by strik-
ing ‘‘and nonbank financial companies’’; 
(16) in section 171(b) (12 U.S.C. 5371(b))— 
(A) by striking ‘‘, depository institution 
holding companies, and nonbank financial com-
panies supervised by the Board of Governors’’ 
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(I) in clause (i)(II), by striking ‘‘, 
any nonbank financial company super-
vised by the Board’’; and 
(II) in clause (ii), by striking 
‘‘and nonbank financial companies su-
pervised by the Board’’; 
(iii) in subsection (c)(2)— 
(I) by striking ‘‘or nonbank fi-
nancial company supervised by the 
Board’’; and 
(II) by striking ‘‘or 2 years after 
the date on which the entity or com-
pany becomes a nonbank financial 
company supervised by the Board’’; 
(iv) in subsection (e)(2), by striking 
‘‘or nonbank financial company supervised 
by the Board’’ each place such term ap-
pears; 
(v) in subsection (g), by striking ‘‘or 
nonbank financial company supervised by 
the Board’’ each place such term appears; 
and 
(vi) in subsection (h)— 
(I) by striking paragraph (3); 
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(II) by redesignating paragraphs 
(4), (5), (6), and (7) as paragraphs 
(3), (4), (5), and (6), respectively; and 
(III) in paragraph (3), as so re-
designated, by striking ‘‘or nonbank 
financial company supervised by the 
Board’’ each place such term appears; 
(B) 
in 
section 
14(a) 
(12 
U.S.C. 
1852(a))— 
(i) in paragraph (2)— 
(I) by striking subparagraph (E); 
and 
(II) by redesignating subpara-
graph (F) as subparagraph (E); and 
(ii) in paragraph (3)(C), by striking 
‘‘or other nonbank financial company su-
pervised by the Board’’. 
(2) DODD-FRANK WALL STREET REFORM AND 
CONSUMER
PROTECTION
ACT.—The Dodd-Frank 
Wall Street Reform and Consumer Protection Act 
(Public Law 111–203) is amended— 
(A) in the table of contents for such Act 
under section 1(b)— 
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(i) by striking the items relating to 
sections 113, 114, 161, 162, 164, 167, 
170, 216, and 217; 
(ii) in the item relating to section 
115, by striking ‘‘nonbank financial com-
panies supervised by the Board of Gov-
ernors and’’; 
(iii) in the item relating to subtitle C 
of title II, by striking ‘‘certain nonbank fi-
nancial companies and’’; and 
(iv) in the item relating to section 
165, by striking ‘‘nonbank financial com-
panies supervised by the Board of Gov-
ernors and’’; 
(B) 
in 
section 
201(a) 
(12 
U.S.C. 
5381(a))— 
(i) in paragraph (11)(B)— 
(I) by striking clause (ii); and 
(II) by redesignating clauses (iii) 
and (iv) as clauses (ii) and (iii), re-
spectively; 
(ii) by striking paragraphs (14) and 
(15); and 
(iii) by redesignating paragraph (16) 
as paragraph (14); 
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(C) in section 210(o)(1)(A) (12 U.S.C. 
5390(o)(1)(A)), by striking ‘‘and any nonbank 
financial company supervised by the Board of 
Governors’’; 
(D) in section 618(a)(4)(B) (12 U.S.C. 
1850a(a)(4)(B))— 
(i) by striking clause (i); and 
(ii) by redesignating clauses (ii), (iii), 
(iv), (v), and (vi) as clauses (i), (ii), (iii), 
(iv), and (v), respectively; 
(E) in section 716(i)(1) (15 U.S.C. 
8305(i)(1))— 
(i) by striking subparagraph (B); 
(ii) by redesignating subparagraph 
(C) as subparagraph (B); and 
(iii) in subparagraph (B), as so redes-
ignated— 
(I) in the heading for such sub-
paragraph, by striking ‘‘, NON-SYS-
TEMICALLY
SIGNIFICANT
INSTITU-
TIONS NOT SUBJECT TO HEIGHTENED 
PRUDENTIAL SUPERVISION AS REGU-
LATED UNDER SECTION 113’’ and in-
serting ‘‘SWAPS ENTITIES’’; and 
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(II) by striking ‘‘, non-system-
ically significant institutions not sub-
ject to heightened prudential super-
vision as regulated under section 
113’’; and 
(F) in section 726(a) (15 U.S.C. 8323(i)), 
by striking ‘‘a nonbank financial company (as 
defined in section 102) supervised by the 
Board, an affiliate of such a bank holding com-
pany or nonbank financial company,’’ and in-
serting ‘‘an affiliate of such a bank holding 
company,’’; and 
(G) in section 765(a) (15 U.S.C. 8343(a)), 
by striking ‘‘a nonbank financial company (as 
defined in section 102) supervised by the Board 
of Governors of the Federal Reserve System, af-
filiate of such a bank holding company or 
nonbank financial company,’’ and inserting ‘‘af-
filiate of such a bank holding company,’’. 
(3) FEDERAL DEPOSIT INSURANCE ACT.—Sec-
tion 10(b)(3) of the Federal Deposit Insurance Act 
(12 U.S.C. 1820(b)(3)) is amended— 
(A) in subparagraph (A)— 
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(i) by striking ‘‘or nonbank financial 
company supervised by the Board of Gov-
ernors’’; and 
(ii) by striking ‘‘or of such nonbank 
financial company supervised by the Board 
of Governors’’; and 
(B) in subparagraph (B), by striking ‘‘a 
nonbank financial company supervised by the 
Board of Governors or’’. 
(4) FEDERAL RESERVE ACT.—Section 11 of the 
Federal Reserve Act (12 U.S.C. 248) is amended— 
(A) by redesignating the second subsection 
(s), as added by section 318(c) of the Dodd- 
Frank Wall Street Reform and Consumer Pro-
tection Act, as subsection (t); and 
(B) in paragraph (2) of subsection (t), as 
so redesignated— 
(i) in subparagraph (A), by adding 
‘‘and’’ at the end; 
(ii) in subparagraph (B), by striking 
‘‘; and’’ and inserting a period; and 
(iii) by striking subparagraph (C); 
(5) TITLE 31.—Section 313(c)(1) of title 31, 
United States Code, is amended— 
(A) by striking subparagraph (C); and 
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(B) by redesignating subparagraphs (D), 
(E), (F), (G), and (H) as subparagraphs (C), 
(D), (E), (F), and (G), respectively. 
SEC. 3. REPEAL OF THE PAYMENT, CLEARING, AND SETTLE-
MENT SUPERVISION ACT OF 2010. 
Title VIII of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act (12 U.S.C. 5461 et seq.), 
and the item relating to that title in the table of contents 
in section 1(b) of such Act, are hereby repealed. 
Æ 
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