Community Bank Relief Act

Bill: 115-s-1284
Sponsor: full_name: Sen. Hatch, Orrin G. [R-UT]
Introduced: 2017-05-25
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Bank accounts, deposits, capital

Banking and financial institutions regulation

Federal Reserve System

Securities
Latest action: action_date: 2017-05-25
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-05-25
action_desc: Introduced in Senate
text: <p><strong>Community Bank Relief Act</strong></p> <p>This bill directs the Federal Reserve Board to increase, from $1 billion to&nbsp;$5 billion,&nbsp;the consolidated asset threshold (i.e., permissible&nbsp;debt level) for a bank holding company&nbsp;or savings and loan holding company that: (1) is not engaged in significant nonbanking activities; (2) does not conduct significant off-balance-sheet activities; and (3) does not have a material amount of debt or equity securities, other than trust-preferred securities, outstanding.</p> <p>If warranted for supervisory purposes, the Federal Reserve Board may exclude a company from this threshold increase.</p>

tv_txt: II 115th CONGRESS 1st Session S. 1284 IN THE SENATE OF THE UNITED STATES May 25, 2017 Mr. Hatch (for himself, Mr. King , and Mr. Nelson ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes.

1. Short title This Act may be cited as the Community Bank Relief Act . 2. Definitions In this Act— (1) the term bank holding company has the meaning given the term in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 ); (2) the term Board means the Board of Governors of the Federal Reserve System; and (3) the term savings and loan holding company has the meaning given the term in section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ). 3. 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 revise appendix C of part 225 of title 12, Code of Federal Regulations (commonly known as the Small Bank Holding Company and Savings and Loan Holding Company Policy Statement ), to raise the consolidated asset threshold under that appendix from $1,000,000,000 (as adjusted by Public Law 113–250 ( 12 U.S.C. 5371 note)) to $5,000,000,000 for bank holding companies and savings and loan holding companies 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 revision under subsection (a) if the Board determines that such action is warranted for supervisory purposes. (c) Conforming amendment Section 171(b)(5) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5371(b)(5) ) is amended by striking subparagraph (C) and inserting the following: (C) any bank holding company or savings and loan holding company that is subject to the application of appendix C of part 225 of title 12, Code of Federal Regulations (commonly known as the Small Bank Holding Company and Savings and Loan Holding Company Policy Statement ). .