,in the ,senate of the ,united ,states1 
,december #aa1 #bjad4  ,amendment3      
,that the bill from the ,house of       
,representatives 7,h4,r4 #ccbi7 entitled
 ,an ,act to enhance the ability of     
community financial institutions to     
foster economic growth and serve their  
communities1 boost small businesses1    
increase individual savings1 and for    
other purposes41 do pass with the       
following ,strike all after the enacting
 clause and insert the following3 #a4   
,changes required to small bank holding 
company policy statement on assessment  
of financial and managerial factors  7a7
 ,in general ,before the end of the     
#f-month period beginning on the date of
 the enactment of this ,act1 the ,board 
of ,governors of the ,federal ,reserve  
,system 7hereafter in this ,act referred
 to as the ,board7 shall publish in the 
,federal ,register proposed revisions to
 the ,small ,bank ,holding ,company     
,policy ,statement on ,assessment of    
,financial and ,managerial ,factors 7#ab

 ,c4,f4,r4 part #bbe appendix ,c7 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  
#a1jjj1jjj1jjj and that-- 7#a7 are not  
engaged in significant nonbanking       
activities either directly or through a 
nonbank subsidiary2  7#b7 do not conduct
 significant off-balance sheet          
activities 7including securitization and
 asset management or administration7    
either directly or through a nonbank    
subsidiary2 and  7#c7 do not have a     
material amount of debt or equity       
securities outstanding 7other than trust
 preferred securities7 that are         
registered with the ,securities and     
,exchange ,commission4  7b7 ,exclusions 
,the ,board may exclude any bank holding
 company or savings and loan holding    
company1 regardless of asset size1 from 
the policy statement under subsection   
7a7 if the ,board determines that such  
action is warranted for supervisory     

purposes4  #b4 ,conforming ,amendment   
7a7 ,in general ,subparagraph 7,c7 of   
section #aga7;b77#e7 of the ,dodd-,frank
 ,wall ,street ,reform and ,consumer    
,protection ,act 7#ab ,u4,s4,c4         
#ecga7;b77#e77 is amended to read as    
follows3  7,c7 any bank holding company 
or savings and loan holding company     
having less than #a1jjj1jjj1jjj 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 7#ab ,c4,f4,r4 part #bbe     
appendix ,c71 as the requirements of    
such ,policy ,statement are amended     
pursuant to section #a of an ,act       
entitled ,to enhance the ability of     
community financial institutions to     
foster economic growth and serve their  
communities1 boost small businesses1    
increase individual savings1 and for    
other purposes4  4  7b7 ,transition     
period ,any small bank holding company  

that was excepted from the provisions of
 section #aga of the ,dodd-,frank ,wall 
,street ,reform and ,consumer           
,protection ,act pursuant to            
subparagraph 7,c7 of section            
#aga7;b77#e7 7as such subparagraph was  
in effect on the day before the date of 
enactment of this ,act71 and any small  
savings and loan holding company that   
would have been excepted from the       
provisions of section #aga pursuant to  
subparagraph 7,c7 7as such subparagraph 
was in effect on the day before the date
 of enactment of this ,act7 if it had   
been a small bank holding company1 shall
 be excepted from the provisions of     
section #aga until the effective date of
 the ,small ,bank ,holding ,company     
,policy ,statement issued by the ,board 
as required by section #a of this ,act4 
#c4 ,definitions ,for the purposes of   
this ,act3 7a7 ,bank holding company    
,the term bank holding company has the  
same meaning as in section #b of the    
,bank ,holding ,company ,act of #aief   

7#ab ,u4,s4,c4 #ahda74  7b7 ,savings and
 loan holding company ,the term savings 
and loan holding company has the same   
meaning as in section #aj7;a7 of the    
,home ,owners' ,loan ,act 7#ab ,u4,s4,c4
 #adfg;a7a774  ,secretary