‘‘(18) DEFINITION.—For purposes of this sub-
section, the term ‘insured depository institution’
shall include—
‘‘(A) any ‘bank holding company’, as that
term is defined in section 2 of the Bank Hold-
ing Company Act of 1956, which has control of
any insured bank (as defined in that section 2),
and the appropriate Federal banking agency in
the case of a bank holding company shall be the
Board of Governors of the Federal Reserve Sys-
tem;
‘‘(B) any ‘savings and loan holding com-
pany’, as that term is defined in section 10 of
the Home Owners’ Loan Act, which has control
of any insured savings association (as defined
in that section 10), and the appropriate Federal
banking agency, in the case of a savings and
loan holding company shall be the Office of
Thrift Supervision; and
‘‘(C) any ‘financial services holding com-
pany’, as that term is defined in section
101(a)(1) of the Depository Institution Affili-
ation Act, which has control of any such in-
sured bank, and the appropriate Federal bank-
ing agency in the case of a financial services
holding company shall be the appropriate Fed-
eral banking agency, as defined in section
101(a)(5) of the Depository Institution Affili-
ation Act, of such insured bank, or each such
agency, if more than one, in the case of a finan-
cial services holding company which has control
of more than one such insured bank.’’.
(b) SECTION 18.—Section 18(j)(1)(A) of the Federal
Deposit Insurance Act (12 U.S.C. 1828(j)(1)(A)) is
amended by striking ‘‘Sections’’ and inserting ‘‘Subject to
section 101(c)(1)(B) of the Depository Institution Affili-
ation Act, sections’’.
SEC. 106. AMENDMENTS TO THE SECURITIES EXCHANGE
ACT OF 1934.
(a) REGISTRATION OF BROKERS AND DEALERS.—
Section 15 of the Securities Exchange Act of 1934 (15
U.S.C. 78o) is amended by adding at the end the following
new subsection:
‘‘(h) ADHERENCE TO OTHER LAWS.—The Commis-
sion shall not grant registration to any broker or dealer
unless such broker or dealer establishes to the satisfaction
of the Commission that all requirements established by the
Depository Institution Affiliation Act in connection with
the activities of such broker or dealer (including any cap-
ital adequacy requirement) have been met.’’.
(b) REGULATION OF BROKERS AND DEALERS.—Sec-
tion 15(b)(4) of the Securities Exchange Act of 1934 (15
U.S.C. 78o (b)(4)) is amended—
(1) in subparagraph (D), by inserting ‘‘the De-
pository Institution Affiliation Act,’’ after ‘‘the Com-
modity Exchange Act,’’; and
(2) in subparagraph (E), by inserting ‘‘the De-
pository Institution Affiliation Act,’’ after ‘‘the Com-
modity Exchange Act,’’.
SEC. 107. AMENDMENT TO THE HOME OWNERS’ LOAN ACT.
Section 11(a)(1) of the Home Owners’ Loan Act (12
U.S.C. 1468(a)(1)) is amended by striking ‘‘Sections’’ and
inserting ‘‘Subject to section 101(c)(1)(B) of the Deposi-
tory Institution Affiliation Act, sections’’.
SEC. 108. AMENDMENT TO THE COMMUNITY REINVEST-
MENT ACT.
Section 803(3) of the Community Reinvestment Act
of 1977 (12 U.S.C. 2902(3)) is amended—
(1) by inserting ‘‘or notice, as appropriate’’
after ‘‘an application’’;
(2) in subparagraph (E), by striking ‘‘or’’ at
the end;
(3) in subparagraph (F), by striking the period
at the end and inserting ‘‘; or’’; and
(4) by adding at the end the following new sub-
paragraph:
‘‘(G) the acquisition of an insured deposi-
tory institution requiring prior notice under sec-
tion 101(b) of the Depository Institution Affili-
ation Act.’’.
TITLE II—SUPERVISORY
IMPROVEMENTS
SEC. 201. NATIONAL FINANCIAL SERVICES COMMITTEE.
(a) ESTABLISHMENT
OF
NATIONAL
FINANCIAL
SERVICES OVERSIGHT COMMITTEE.—There is established
a National Financial Services Oversight Committee which
shall consist of—
(1) the Secretary of the Treasury;
(2) the Chairman of the Board of Governors of
the Federal Reserve System;
(3) the Chairman of the Board of Directors of
the Federal Deposit Insurance Corporation;
(4) the Director of the Office of Thrift Super-
vision;
(5) the Comptroller of the Currency;
(6) the Chairman of the Securities and Ex-
change Commission; and
(7) the Chairman of the Commodities Futures
Trading Commission.