H.R. 3329 — Referred from Senate

IIB 113th CONGRESS 2d Session H. R. 3329 IN THE SENATE OF THE UNITED STATES May 7, 2014Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes. 1. 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 publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 CFR Part 225 Appendix C) 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 $1,000,000,000 and that— (1) are not engaged in any nonbanking activities involving significant leverage; and (2) do not have a significant amount of outstanding debt that is held by the general public. (b) Conforming amendment Section 171(b)(5)(C) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5371(b)(5)(C)) is amended by inserting or small savings and loan holding company after any small bank holding company. (c) Rule of construction Nothing in this Act or the amendments made by this Act may be construed as limiting the authority of the Board of Governors of the Federal Reserve System to exclude a bank holding company or a savings and loan holding company from the policy statement described under subsection (a), if such action is warranted for supervisory purposes. (d) Definitions For purposes of this section: (1) Bank holding company The term bank holding company has the meaning given that term under section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841). (2) Savings and loan holding company The term savings and loan holding company has the meaning given that term under section 10(a) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)). Passed the House of Representatives May 6, 2014.Karen L. Haas,Clerk