To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

Bill: 113-hr-3329
Sponsor: full_name: Rep. Luetkemeyer, Blaine [R-MO-3]
Introduced: 2013-10-23
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Bank accounts, deposits, capital

Banking and financial institutions regulation

Business investment and capital

Corporate finance and management

Federal Reserve System

Government information and archives
Latest action: action_date: 2014-12-18
text: Became Public Law No: 113-250.

Summaries:
action_date: 2013-10-23
action_desc: Introduced in House
text: <p>Directs the Board of Governors of the Federal Reserve System to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors applying such policy to bank holding companies and savings and loan holding companies having pro forma consolidated assets of less than $1 billion and which: (1) are not engaged in nonbanking activities involving significant leverage, and (2) do not have a significant amount of outstanding debt held by the general public.</p> <p>Retains Board authority, however, to exclude either a bank holding company or a savings and loan holding company from such Policy Statement if exclusion is warranted for supervisory purposes. </p>

action_date: 2014-05-06
action_desc: Passed House without amendment
text: <p><b>(This measure has not been amended since it was introduced. The summary of that version is repeated here.)</b></p> <p>Directs the Board of Governors of the Federal Reserve System to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors applying such policy to bank holding companies and savings and loan holding companies having pro forma consolidated assets of less than $1 billion and which: (1) are not engaged in nonbanking activities involving significant leverage, and (2) do not have a significant amount of outstanding debt held by the general public.</p> <p>Retains Board authority, however, to exclude either a bank holding company or a savings and loan holding company from such Policy Statement if exclusion is warranted for supervisory purposes. </p>

action_date: 2014-12-11
action_desc: Passed Senate amended
text: <p>Directs the Board of Governors of the Federal Reserve System (Board) to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors, applying such policy to certain bank holding companies and savings and loan holding companies having <i>pro forma</i> consolidated assets of less than $1 billion, and which: (1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary, (2) do not conduct significant off-balance sheet activities either directly or through a nonbank subsidiary (including securitization and asset management or administration), and (3) do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission (SEC).</p> <p>Retains Board authority to exclude from such Policy Statement either a bank holding company or a savings and loan holding company, regardless of asset size, if exclusion is determined warranted for supervisory purposes. </p> <p>Exempts from the leverage and risk-based capital requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act any bank holding company or savings and loan holding company having less than $1 billion in total consolidated assets that complies with the requirements of the Policy Statement.</p>

action_date: 2014-12-18
action_desc: Public Law
text: <p><b>(This measure has not been amended since it was passed by the Senate on December 11, 2014. The summary of that version is repeated here.)</b></p> <p>Directs the Board of Governors of the Federal Reserve System (Board) to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors, applying such policy to certain bank holding companies and savings and loan holding companies having <i>pro forma</i> consolidated assets of less than $1 billion, and which: (1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary, (2) do not conduct significant off-balance sheet activities either directly or through a nonbank subsidiary (including securitization and asset management or administration), and (3) do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission (SEC).</p> <p>Retains Board authority to exclude from such Policy Statement either a bank holding company or a savings and loan holding company, regardless of asset size, if exclusion is determined warranted for supervisory purposes. </p> <p>Exempts from the leverage and risk-based capital requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act any bank holding company or savings and loan holding company having less than $1 billion in total consolidated assets that complies with the requirements of the Policy Statement.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3329 IN THE HOUSE OF REPRESENTATIVES October 23, 2013 Mr. Luetkemeyer (for himself, Mr. Cotton , Mr. Murphy of Florida , Mr. Quigley , and Ms. Kuster ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

1. Changes required to small bank holding company policy statement on assessment of financial and managerial factors (a) In general Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 C.F.R. part 225–appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that— (1) are not engaged in any nonbanking activities involving significant leverage; and (2) do not have a significant amount of outstanding debt that is held by the general public. (b) Conforming amendment Section 171(b)(5)(C) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5371(b)(5)(C) ) is amended by inserting or small savings and loan holding company after any small bank holding company . (c) Rule of construction Nothing in this Act or the amendments made by this Act may be construed as limiting the authority of the Board of Governors of the Federal Reserve System to exclude a bank holding company or a savings and loan holding company from the policy statement described under subsection (a), if such action is warranted for supervisory purposes. (d) Definitions For purposes of this section: (1) Bank holding company The term bank holding company has the meaning given that term under section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 ). (2) Savings and loan holding company The term savings and loan holding company has the meaning given that term under section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ).

tv_txt: I 113th CONGRESS 2d Session H. R. 3329 IN THE HOUSE OF REPRESENTATIVES AN ACT To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

1. Changes required to small bank holding company policy statement on assessment of financial and managerial factors (a) In general Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 CFR Part 225 Appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that— (1) are not engaged in any nonbanking activities involving significant leverage; and (2) do not have a significant amount of outstanding debt that is held by the general public. (b) Conforming amendment Section 171(b)(5)(C) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5371(b)(5)(C) ) is amended by inserting or small savings and loan holding company after any small bank holding company . (c) Rule of construction Nothing in this Act or the amendments made by this Act may be construed as limiting the authority of the Board of Governors of the Federal Reserve System to exclude a bank holding company or a savings and loan holding company from the policy statement described under subsection (a), if such action is warranted for supervisory purposes. (d) Definitions For purposes of this section: (1) Bank holding company The term bank holding company has the meaning given that term under section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 ). (2) Savings and loan holding company The term savings and loan holding company has the meaning given that term under section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ).

Passed the House of Representatives May 6, 2014. Karen L. Haas, Clerk.

tv_txt: IIB 113th CONGRESS 2d Session H. R. 3329 IN THE SENATE OF THE UNITED STATES May 7, 2014 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

1. Changes required to small bank holding company policy statement on assessment of financial and managerial factors (a) In general Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 CFR Part 225 Appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that— (1) are not engaged in any nonbanking activities involving significant leverage; and (2) do not have a significant amount of outstanding debt that is held by the general public. (b) Conforming amendment Section 171(b)(5)(C) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5371(b)(5)(C)) is amended by inserting or small savings and loan holding company after any small bank holding company . (c) Rule of construction Nothing in this Act or the amendments made by this Act may be construed as limiting the authority of the Board of Governors of the Federal Reserve System to exclude a bank holding company or a savings and loan holding company from the policy statement described under subsection (a), if such action is warranted for supervisory purposes. (d) Definitions For purposes of this section: (1) Bank holding company The term bank holding company has the meaning given that term under section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841). (2) Savings and loan holding company The term savings and loan holding company has the meaning given that term under section 10(a) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)).

Passed the House of Representatives May 6, 2014. Karen L. Haas, Clerk

tv_txt: 113th CONGRESS 2d Session H.R. 3329 In the Senate of the United States, December 11, 2014. Amendment:

That the bill from the House of Representatives (H.R. 3329) entitled An Act to enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes. , do pass with the following Strike all after the enacting clause and insert the following: 1. Changes required to small bank holding company policy statement on assessment of financial and managerial factors (a) In general Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System (hereafter in this Act referred to as the Board ) shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 C.F.R. part 225 appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that— (1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary; (2) do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary; and (3) do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission. (b) Exclusions The Board may exclude any bank holding company or savings and loan holding company, regardless of asset size, from the policy statement under subsection (a) if the Board determines that such action is warranted for supervisory purposes. 2. Conforming Amendment (a) In general Subparagraph (C) of section 171(b)(5) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5371(b)(5)) is amended to read as follows: (C) any bank holding company or savings and loan holding company having less than $1,000,000,000 in total consolidated assets that complies with the requirements of the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors of the Board of Governors (12 C.F.R. part 225 appendix C), as the requirements of such Policy Statement are amended pursuant to section 1 of an Act entitled To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes . . (b) Transition period Any small bank holding company that was excepted from the provisions of section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act pursuant to subparagraph (C) of section 171(b)(5) (as such subparagraph was in effect on the day before the date of enactment of this Act), and any small savings and loan holding company that would have been excepted from the provisions of section 171 pursuant to subparagraph (C) (as such subparagraph was in effect on the day before the date of enactment of this Act) if it had been a small bank holding company, shall be excepted from the provisions of section 171 until the effective date of the Small Bank Holding Company Policy Statement issued by the Board as required by section 1 of this Act. 3. Definitions For the purposes of this Act: (a) Bank holding company The term bank holding company has the same meaning as in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 ). (b) Savings and loan holding company The term savings and loan holding company has the same meaning as in section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ).

Secretary

tv_txt: I One Hundred Thirteenth Congress of the United States of America At the Second Session Begun and held at the City of Washington on Friday, the third day of January, two thousand and fourteen H. R. 3329 AN ACT To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

1. Changes required to small bank holding company policy statement on assessment of financial and managerial factors (a) In general Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System (hereafter in this Act referred to as the Board ) shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 CFR part 225 appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that— (1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary; (2) do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary; and (3) do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission. (b) Exclusions The Board may exclude any bank holding company or savings and loan holding company, regardless of asset size, from the policy statement under subsection (a) if the Board determines that such action is warranted for supervisory purposes. 2. Conforming Amendment (a) In general Subparagraph (C) of section 171(b)(5) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5371(b)(5) ) is amended to read as follows: (C) any bank holding company or savings and loan holding company having less than $1,000,000,000 in total consolidated assets that complies with the requirements of the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors of the Board of Governors (12 CFR part 225 appendix C), as the requirements of such Policy Statement are amended pursuant to section 1 of an Act entitled To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes . . (b) Transition period Any small bank holding company that was excepted from the provisions of section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act pursuant to subparagraph (C) of section 171(b)(5) (as such subparagraph was in effect on the day before the date of enactment of this Act), and any small savings and loan holding company that would have been excepted from the provisions of section 171 pursuant to subparagraph (C) (as such subparagraph was in effect on the day before the date of enactment of this Act) if it had been a small bank holding company, shall be excepted from the provisions of section 171 until the effective date of the Small Bank Holding Company Policy Statement issued by the Board as required by section 1 of this Act. 3. Definitions For the purposes of this Act: (a) Bank holding company The term bank holding company has the same meaning as in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 ). (b) Savings and loan holding company The term savings and loan holding company has the same meaning as in section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ).

Speaker of the House of Representatives. Vice President of the United States and President of the Senate.