,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bbgj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #bi1 #bjad ,ms4 
,coll9s 7= h]self1 ,mr4 ,br[n1 ,mr4     
,johanns1 ,mr4 ,kirk1 & ,mr4 ,te/]7     
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to cl>ify ! application ( c]ta9
 lev]age & risk-bas$ requirem5ts "u !   
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act4  #a4 ,%ort   
title  ,?is ,act may be cit$ z !        
,insurance ,capital ,/&>ds ,cl>ification
 ,act ( #bjad4  #b4 ,cl>ification (     
application ( lev]age & risk-bas$       
capital requirem5ts ,section #aga ( !   
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7#ab ,u4,s4,c4
 #ecga7 is am5d$-- 7#a7 9 subsection    
7a71 by add+ at ! end ! foll[+3  7#d7   
,bus9ess ( insurance ,! t]m bus9ess (   
insurance has ! same mean+ z 9 section  
#ajjb7c74  7#e7 ,p]son regulat$ by a    
/ate insurance regulator ,! t]m p]son   

regulat$ by a ,/ate insurance regulator 
has ! same mean+ z 9 section #ajjb7bb74 
7#f7 ,regulat$ =eign subsidi>y &        
regulat$ =eign affiliate ,! t]ms        
regulat$ =eign subsidi>y & regulat$     
=eign affiliate mean a p]son engag$ 9 ! 
bus9ess ( insurance 9 a =eign c\ntry t  
is regulat$ by a =eign insurance        
regulatory au?ority t is a memb] ( !    
,int]national ,association ( ,insurance 
,sup]visors or o!r comp>able =eign      
insurance regulatory au?ority z det]m9$ 
by ! ,bo>d ( ,gov]nors foll[+           
consultation ) ! ,/ate insurance        
regulators1 includ+ ! lead ,/ate        
insurance commission] 7or simil> ,/ate  
(ficial7 ( ! insurance hold+ company    
sy/em z det]m9$ by ! proc$ures )9 !     
,f9ancial ,analysis ,h&book adopt$ by ! 
,national ,association ( ,insurance     
,commission]s1 :]e ! p]son1 or its      
pr9cipal ,unit$ ,/ates insurance        
affiliate1 has its pr9cipal place (     
bus9ess or is domicil$1 b only to !     
ext5t t-- 7,a7 su* p]son acts 9 its     

capacity z a regulat$ insurance entity2 
&  7,b7 ! ,bo>d ( ,gov]nors does n      
det]m9e t ! capital requirem5ts 9 a     
specific =eign jurisdiction are         
inadequate4  7#g7 ,capacity z a regulat$
 insurance entity ,! t]m capacity z a   
regulat$ insurance entity-- 7,a7        
includes any action or activity und]tak5
 by a p]son regulat$ by a ,/ate         
insurance regulator or a regulat$ =eign 
subsidi>y or regulat$ =eign affiliate ( 
su* p]son1 z ^? actions relate to !     
provision ( insurance1 or o!r activities
 necess>y to engage 9 ! bus9ess (       
insurance2 &  7,b7 does n include any   
action or activity1 includ+ any f9ancial
 activity1 t is n regulat$ by a ,/ate   
insurance regulator or a =eign ag5cy or 
au?ority & subject to ,/ate insurance   
capital requirem5ts or1 9 ! case ( a    
regulat$ =eign subsidi>y or regulat$    
=eign affiliate1 capital requirem5ts    
impos$ by a =eign insurance regulatory  
au?ority4  2 &  7#b7 by add+ at ! end ! 
foll[+ new subsection3  7c7             

,cl>ification  7#a7 ,9 g5]al ,9 e/abli%+
 ! m9imum lev]age capital requirem5ts & 
m9imum risk-bas$ capital requirem5ts on 
a consolidat$ basis = a depository      
in/itution hold+ company or a nonbank   
f9ancial company sup]vis$ by ! ,bo>d (  
,gov]nors z requir$ "u p>agraphs 7#a7 & 
7#b7 ( subsection 7b71 ! appropriate    
,f$]al bank+ ag5cies %all n be requir$  
to include1 = any purpose ( ?is section 
7includ+ 9 any det]m9ation (            
consolidation71 a p]son regulat$ by a   
,/ate insurance regulator or a regulat$ 
=eign subsidi>y or a regulat$ =eign     
affiliate ( su* p]son engag$ 9 ! bus9ess
 ( insurance1 to ! ext5t t su* p]son    
acts 9 its capacity z a regulat$        
insurance entity4  7#b7 ,rule (         
con/ruction on bo>d's au?ority ,?is     
subsection %all n be con/ru$ to         
prohibit1 modify1 limit1 or o!rwise     
sup]s$e any o!r provision ( ,f$]al law t
 provides ! ,bo>d ( ,gov]nors au?ority  
to issue regulations & ord]s relat+ to  
capital requirem5ts = depository        

in/itution hold+ companies or nonbank   
f9ancial companies sup]vis$ by ! ,bo>d (
 ,gov]nors4  7#c7 ,rule ( con/ruction on
 acc\nt+ pr9ciples ,not)/&+ any o!r     
provision ( law1 a depository in/itution
 hold+ company or nonbank f9ancial      
company sup]vis$ by ! ,bo>d ( ,gov]nors 
( ! ,f$]al ,res]ve t is also a p]son    
regulat$ by a ,/ate insurance regulator 
or a regulat$ =eign subsidi>y or a      
regulat$ =eign affiliate ( su* p]son t  
files its hold+ company f9ancial        
/atem5ts utiliz+ only ,/atutory ,acc\nt+
 ,pr9ciples 9 accordance ) ,/ate law1   
%all n be requir$ to prep>e su* f9ancial
 /atem5ts 9 accordance ) ,g5]ally       
,accept$ ,acc\nt+ ,pr9ciples4  4