,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #ibg  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,febru>y #bh1 #bjac   
,mr4 ,posey 7= himself1 ,ms4 ,wat]s1    
,mr4 ,we/morel&1 & ,mr4 ,jones7         
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to p]mit c]ta9 curr5t loans t  
w\ld o!rwise be treat$ z non-accrual    
loans z accrual loans1 & = o!r purposes4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,common ,s5se ,economic ,recov]y    
,act ( #bjac4  #b4 ,treatm5t ( c]ta9    
loans  7a7 ,9 g5]al ,= purposes (       
det]m9+ capital requirem5ts or measur+  
capital ( an insur$ depository          
in/itution "u section #ch ( ! ,f$]al    
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahcao7 or any o!r provision ( law or   
regulatory guidance1 an insur$          
depository in/itution t w\ld o!rwise be 
requir$ to treat a loan z a non-accrual 
loan may treat su* loan z an accrual    
loan1 if--  7#a7 ! loan is curr5t2  7#b7
 dur+ ! previ\s #f-mon? p]iod1 no mon?ly

 paym5t on ! loan has be5 m ?an #cj days
 del9qu5t2 &  7#c7 ! paym5ts on ! loan  
are be+ made pursuant to ! contractual  
t]ms ( ! loan agreem5t & any ref9ances &
 modifications t are agre$ to by all ( !
 p>ties4  7b7 ,demon/ration ( ability   
,to p]=m on a loan ,not)/&+ subsection  
7a71 a modifi$ or re/ructur$ loan may n 
be treat$ z a non-accrual loan if !     
borr[] demon/rates ! ability to p]=m on 
su* a loan--  7#a7 ov] a p]iod ( #f     
mon?s2 or  7#b7 ) respect to a loan on a
 qu>t]ly1 semi-annual1 or long] repaym5t
 s*$ule1 ov] a p]iod ( #c consecutive   
paym5ts4  7c7 ,no additional adv]se     
treatm5t ,) respect to a loan held by an
 insur$ depository in/itution & treat$ z
 an accrual loan by reason ( subsection 
7a71 an appropriate ,f$]al bank+ ag5cy  
may n impose any additional acc\nt+     
requirem5ts on su* in/itution ) respect 
to su* loan comp>$ to ! requirem5ts t   
w\ld o!rwise h be5 plac$ on su*         
in/itution ) respect to su* loan if su* 
loan 7 n be+ treat$ z an accrual loan by

 reason ( subsection 7a71 if ! result ( 
su* additional requirem5t w\ld adv]sely 
impact ! measurem5t ( capital ( !       
in/itution4  7d7 ,prohibition on !      
re-,classification ( loans bas$ solely  
on collat]al value ,an appropriate      
,f$]al bank+ ag5cy may n require an     
insur$ depository in/itution to treat a 
loan z a non-accrual loan solely on !   
basis t ! collat]al ( su* loan has r$uc$
 9 value4  7e7 ,provisions n applicable 
to publicly trad$ in/itutions ,?is      
section %all n apply ) respect to any   
issu] ( a security regi/]$ pursuant to  
section #ab ( ! ,securities ,ex*ange    
,act ( #aicd 7#ae ,u4,s4,c4 #ghl74  #c4 
,/udy  7a7 ,9 g5]al ,! ,f9ancial        
,/ability ,ov]sight ,c\ncil %all conduct
 a /udy ( h[ be/ to prev5t contradictory
 guidance f be+ issu$ by appropriate    
,f$]al bank+ ag5cies to insur$          
depository in/itutions ) respect to loan
 classifications & capital requirem5ts4 
7b7 ,report ,n lat] ?an ! end ( !       
#fj-;day p]iod beg9n+ on ! date ( !     

enactm5t ( ?is ,act1 ! ,f9ancial        
,/ability ,ov]sight ,c\ncil %all issue a
 report to ! ,congress conta9+--  7#a7  
all det]m9ations & conclusions made by !
 ,c\ncil 9 c>ry+ out ! /udy requir$ "u  
subsection 7a72 &  7#b7 legislative     
recomm5dations t ! ,c\ncil believe w    
prev5t contradictory guidance f be+     
issu$ by appropriate ,f$]al bank+       
ag5cies to insur$ depository in/itutions
 ) respect to loan classifications &    
capital requirem5ts4  #d4 ,def9itions ,=
 purposes ( ?is ,act3  7#a7 ,appropriate
 ,f$]al bank+ ag5cy ,! t]m appropriate  
,f$]al bank+ ag5cy--  7,a7 has ! mean+  
giv5 su* t]m "u section #c ( ! ,f$]al   
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac72 &  7,b7 means ! ,national ,cr$it
 ,union ,adm9i/ration ,bo>d1 9 ! case ( 
a cr$it union4  7#b7 ,insur$ depository 
in/itution ,! t]m insur$ depository     
in/itution means--  7,a7 an insur$      
depository in/itution1 z def9$ "u       
section #c ( ! ,f$]al ,deposit          
,insurance ,act 7#ab ,u4,s4,c4 #ahac72 &

  7,b7 a cr$it union4  #e4 ,sunset      
,effective aft] ! end ( ! #b-ye> p]iod  
beg9n+ on ! date ( ! enactm5t ( ?is     
,act1 ?is ,act %all cease to h any =ce  
or effect4