A bill to allow more small insured depository institutions to qualify for the 18-month on-site examination cycle, and for other purposes.

Bill: 114-s-970
Sponsor: full_name: Sen. Toomey, Patrick [R-PA]
Introduced: 2015-04-16
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital

Banking and financial institutions regulation
Latest action: action_date: 2015-04-16
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2015-04-16
action_desc: Introduced in Senate
text: <p>This bill amends the Federal Deposit Insurance Act to increase from $500 million to $1 billion the asset size of small insured depository institutions eligible for 18-month on-site examination cycles.</p> <p>A federal banking agency is granted discretion to increase the asset ceiling amount from $100 million to $1 billion (currently from $100 million to $500 million) if the greater asset size would be consistent with the principles of safety and soundness.</p>

tv_txt: II 114th CONGRESS 1st Session S. 970 IN THE SENATE OF THE UNITED STATES April 16, 2015 Mr. Toomey (for himself and Mr. Donnelly ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To allow more small insured depository institutions to qualify for the 18-month on-site examination cycle, and for other purposes.

1. Expansion of threshold for 18-month on-site examination cycle Section 10(d) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(d) ) is amended— (1) in paragraph (4)(A), by striking $500,000,000 and inserting $1,000,000,000 ; and (2) in paragraph (10), by striking $500,000,000 and inserting $1,000,000,000 .