Community Bank Capital Clarification Act

Bill: 114-hr-2987
Sponsor: full_name: Rep. Meeks, Gregory W. [D-NY-5]
Introduced: 2015-07-08
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital

Banking and financial institutions regulation

Securities
Latest action: action_date: 2015-10-21
text: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

Summaries:
action_date: 2015-07-08
action_desc: Introduced in House
text: <p><b>Community Bank Capital Clarification Act</b></p> <p>This bill amends the Financial Stability Act of 2010 with respect to:</p> <ul> <li>minimum leverage capital requirements and minimum risk-based capital requirements for depository institution holding companies;</li> <li>mandatory deductions from actual capital in the calculation of such minimum capital requirements for certain investments by such institutions, especially in financial subsidiaries; and </li> <li>the exemption from such capital deductions for the debt or equity instruments issued by certain smaller institutions.</li> </ul> <p>A depository institution holding company exempted from capital deductions because it had less than $15 billion of total consolidated assets at the end of a quarterly financial reporting period after December 31, 2009, shall continue to be treated as an exempt institution as long it has total consolidated assets of less than $15 billion.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 2987 IN THE HOUSE OF REPRESENTATIVES July 8, 2015 Mr. Meeks (for himself, Mr. King of New York , Mrs. Carolyn B. Maloney of New York , and Mr. Luetkemeyer ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Financial Stability Act of 2010 to clarify the treatment of certain debt and equity instruments of smaller institutions for purposes of capital requirements, and for other purposes.

1. Short title This Act may be cited as the Community Bank Capital Clarification Act . 2. Clarification for instruments of other depository institution holding companies Section 171(b)(4)(C) of the Financial Stability Act of 2010 ( 12 U.S.C. 5371(b)(4)(C) ) is amended by adding at the end the following: A depository institution holding company with total consolidated assets of less than $15,000,000,000 at the end of a quarterly financial reporting period after December 31, 2009, shall be treated as if the company had total consolidated assets of less than $15,000,000,000 as of December 31, 2009, for so long as such company has total consolidated assets of less than $15,000,000,000. .