Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Traditional Banking Regulatory
Relief Act of 2015''.

SEC. 2. REGULATORY RELIEF FOR TRADITIONAL BANKING ORGANIZATIONS.

(a) Regulatory Capital Requirements.--
(1) In general.--Section 18 of the Federal Deposit
Insurance Act (12 U.S.C. 1828) is amended by adding at the end
the following new subsection:
''(aa) Treatment of Traditional Banking Organizations.--
''(1) Regulatory capital requirements.--
''(A) Simple leverage ratio.--The appropriate
Federal banking agencies shall issue regulations
establishing a minimum simple leverage ratio at no less
than 10 percent. The simple leverage ratio requirement
shall be consistent with regulations promulgated
pursuant to section 38 (relating to prompt corrective
action).
''(B) Application to traditional banking
organization.--Notwithstanding any other provision of
law, a traditional banking organization that meets the
minimum simple leverage ratio established under
subparagraph (A) may elect, by notice to the
appropriate Federal banking agencies, to maintain the
minimum simple leverage ratio as its sole measure of
capital adequacy.
''(C) Exemption from risk-based capital
requirement.--The risk-based capital requirement in
section 38(c)(1)(A) shall not apply to a traditional
banking organization that makes an election under
subparagraph (B) and complies with regulations issued
in accordance with this paragraph.
''(D) Grace period.--A traditional banking
organization that makes an election under subparagraph
(B) and fails to maintain the minimum simple leverage
ratio described in subparagraph (A) (as determined by
the first quarterly report of condition issued after
making such an election) shall be exempt from the risk-
based capital requirement in section 38(c)(1)(A) for a
period of 18 months beginning on the date of such
determination.
''(2) Reservation of authority.--Notwithstanding any other
provision of this subsection, an appropriate Federal banking
agency may require additional capital adequacy measures
applicable to a newly chartered traditional banking
organization or for an individual traditional banking
organization if such measures are required to ensure the safety
and soundness of the banking organization or to prevent an
unacceptable risk to the Deposit Insurance Fund.
''(3) Definitions.--
''(A) Traditional banking organization.--The term
'traditional banking organization' means any bank
holding company, savings and loan holding company,
bank, or savings association that individually, and
when including its parent, subsidiaries, and all
affiliates, meets the following requirements:
''(i) Has zero trading assets and zero
trading liabilities.
''(ii) Does not engage in swaps or
security-based swaps (as such terms are defined
in section 1a of the Commodity Exchange Act (7
U.S.C. 1a)), other than swaps or security-based
swaps referencing interest rates or foreign
exchange swaps (as such terms are defined in
such section).
''(iii) Has a total gross notional exposure
of swaps and security-based swaps of not more
than $3,000,000,000.
''(B) Simple leverage ratio.--
''(i) In general.--The term 'simple
leverage ratio' means--
''(I) total equity less goodwill
and deferred tax assets, divided by
''(II) total assets less goodwill
and deferred tax assets,
as measured by generally accepted accounting
principles.
''(ii) Measurements.--For purposes of
measuring the simple leverage ratio capital
requirements of a traditional banking
organization, the appropriate Federal banking
agencies may, by regulation, require--
''(I) the exclusion, from total
equity, of other intangible assets; or
''(II) the addition, to total
assets, of off-balance sheet items.
''(iii) Rule of construction.--The simple
leverage ratio shall not be construed to be a
generally applicable leverage capital
requirement for purposes of section 171 of the
Dodd-Frank Wall Street Reform and Consumer
Protection Act (12 U.S.C. 5371).''.
(2) Phase-in for certain organizations.--
(A) In general.--Notwithstanding the minimum simple
leverage ratio requirement under section 18(aa)(1)(B)
of the Federal Deposit Insurance Act, a traditional
banking organization with a simple leverage ratio of 8
percent or more may make an election under such section
18(aa)(1)(B) during the 18-month period beginning on
the date of the enactment of this Act.
(B) Requirement to meet the minimum simple leverage
ratio.--A traditional banking organization making an
election pursuant to subparagraph (A) shall have until
the end of the 18-month period described under
subparagraph (A) to meet the minimum simple leverage
ratio, or the organization's election under section
18(aa)(1)(B) of the Federal Deposit Insurance Act shall
be terminated.
(C) Definitions.--For purposes of this paragraph:
(i) Minimum simple leverage ratio.--The
term ''minimum simple leverage ratio'' means
the minimum simple leverage ratio established
under section 18(aa)(1)(A) of the Federal
Deposit Insurance Act.
(ii) Other terms.--The terms ''simple
leverage ratio'' and ''traditional banking
organization'' have the meaning given those
terms, respectively, under section 18(aa)(3) of
the Federal Deposit Insurance Act.
(b) Short Form Call Report.--Section 7(a) of the Federal Deposit
Insurance Act (12 U.S.C. 1817(a)) is amended by adding at the end the
following:
''(12) Short form reporting.--The appropriate Federal
banking agencies shall issue regulations allowing for a reduced
reporting requirement for a traditional banking organization
that elects to maintain a simple leverage ratio as its sole
measure of capital adequacy pursuant to section 18(aa).''.
(c) On-Site Examinations.--Section 10(d) of the Federal Deposit
Insurance Act (12 U.S.C. 1820(d)) is amended--
(1) in paragraph (4)--
(A) in the paragraph heading, by inserting ''and
traditional banking organizations'' after ''certain
small institutions'';
(B) in subparagraph (A), by inserting ''or is a
traditional banking organization defined in section
18(aa)(3)'' after ''$1,000,000,000'';
(C) by striking subparagraph (B) and redesignating
subparagraphs (C) through (E) as subparagraphs (B)
through (D), respectively;
(D) in subparagraph (B) (as so redesignated), by
striking ''condition'' and all that follows through
''$200,000,000'' and inserting ''condition was found to
be outstanding or good'';
(E) in subparagraph (C) (as so redesignated), by
striking ''and'' at the end;
(F) in subparagraph (D) (as so redesignated), by
striking the period at the end and inserting ''; and'';
and
(G) by adding at the end the following new
subparagraph:
''(E) the appropriate Federal banking agency
believes the 18-month period is consistent with the
safety and soundness of the banking organization.'';
and
(2) by striking paragraph (10).
(d) Stress Testing.--Section 165(i)(2)(A) of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (12 U.S.C. 5365(i)(2)(A)) is
amended by inserting '', unless such companies are traditional banking
organizations (as defined in section 18(aa)(3) of the Federal Deposit
Insurance Act)'' after ''annual stress tests''.
(e) Technical Amendment.--Section 18 of the Federal Deposit
Insurance Act (12 U.S.C. 1828) is amended by moving subsection (y) so
as to appear above subsection (z).
Output:
Traditional Banking Regulatory Relief Act of 2015 This bill amends the Federal Deposit Insurance Act (FDIA) to prescribe capital requirements for traditional banking organizations (TBOs) at a minimum simple leverage ratio of no less than 10%. A TBO is any bank holding company, savings and loan holding company, bank, or savings association that individually (and when including its parent, subsidiaries, and affiliates) meets the following criteria: has zero trading assets and zero trading liabilities, does not engage in swaps or security-based swaps other than those referencing interest rates or foreign exchange swaps, and has a total gross notional exposure of swaps and security-based swaps of not more than $3 billion. "Simple leverage ratio" means: total equity less goodwill and deferred tax assets, divided by total assets less goodwill and deferred tax assets, as measured by generally accepted accounting principles. A TBO meeting this minimum simple leverage ratio may notify the federal banking agencies to maintain it as the sole measure of its capital adequacy. The risk-based capital requirement shall not apply to it. If the TBO fails to maintain the minimum simple leverage ratio, it shall remain exempt from the risk-based capital requirement for an 18-month grace period. The bill grants a TBO with a simple leverage ratio of 8% or more a phase-in period of 18 months after enactment of this bill within which to elect to meet the minimum simple leverage ratio as its sole measure of capital adequacy. The federal banking agencies, with respect to reports of condition, shall permit a reduced reporting requirement for a TBO electing to maintain a simple leverage ratio as its sole measure of capital adequacy. The 18-month on-site examination cycle shall apply to TBOs (and, as under current law, to insured depository institutions whose assets total less than $1 billion) if the appropriate federal banking agency believes this is consistent with the TBO's safety and soundness. The bill repeals the authority of federal banking agencies, at their discretion, to increase the maximum asset amount of insured depository institutions for certain purposes. The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended to exempt TBOs from mandatory annual stress tests.