,,ib  ,union ,cal5d> ,no4 #fhi  #aad?   
,,congress  #b;d ,session  ,h4 ,r4 #cheg
  ,report ,no4 #aad-hgh  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,octob] #bi1 #bjae
 ,mr4 ,mess] introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,decemb] #af1 #bjaf 
,committ$ to ! ,committee ( ! ,:ole     
,h\se on ! ,/ate ( ! ,union & ord]$ to  
be pr9t$  ,a ,,bill  ,to require ! ,bo>d
 ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em &
 ! ,f9ancial ,/ability ,ov]sight ,c\ncil
 to c>ry out c]ta9 requirem5ts "u !     
,f9ancial ,/ability ,act ( #bjaj be=e   
mak+ any new det]m9ation "u section #aac
 ( su* ,act1 & = o!r purposes4  #a4     
,requirem5ts relat$ to ! ,f9ancial      
,/ability ,act ( #bjaj  7a7 ,9 g5]al ,! 
,f9ancial ,/ability ,ov]sight ,c\ncil   
may n make a det]m9ation "u section #aac
 ( ! ,f9ancial ,/ability ,act ( #bjaj   
7#ab ,u4,s4,c4 #ecbc7 t a nonbank       
f9ancial company %all be sup]vis$ by !  
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em & subject to prud5tial /&>ds     

until #ij days aft]-- 7#a7 ! ,bo>d (    
,gov]nors ( ! ,f$]al ,res]ve ,sy/em     
e/abli%es prud5tial /&>ds = nonbank     
f9ancial companies1 z requir$ by        
subsections 7a7 & 7b7 ( section #afe (  
su* ,act2  7#b7 ! ,bo>d ( ,gov]nors ( ! 
,f$]al ,res]ve ,sy/em promulgates       
regulations sett+ =? crit]ia = exempt+  
c]ta9 types or classes ( ,u4,s4 nonbank 
f9ancial companies or =eign nonbank     
f9ancial companies f sup]vision1 z      
requir$ by section #agj ( su* ,act2 &   
7#c7 ! ,f9ancial ,/ability ,ov]sight    
,c\ncil--  7,a7 reevaluates )9 cal5d>   
ye> #bjaf ea* det]m9ation made "u       
subsections 7a7 & 7b7 ( section #aac (  
su* ,act & resc9ds any su* det]m9ation  
if ! ,c\ncil det]m9es t ! nonbank       
f9ancial company no long] meets ! /&>ds 
"u su* subsections1 z requir$ by section
 #aac7;d7 ( su* ,act2 &  7,b7 submits a 
report to ! ,committee on ,bank+1 ,h\s+1
 & ,urban ,affairs ( ! ,s5ate & !       
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives expla9+ )       

specificity ! reasons = :i* ! ,c\ncil   
did n resc9d any su* det]m9ation4  7b7  
,def9itions ,= purposes ( ?is section1 !
 t]ms nonbank f9ancial company1 ,u4,s4  
nonbank f9ancial company1 & =eign       
nonbank f9ancial company h ! mean+ giv5 
^? t]ms1 respectively1 "u section #ajb (
 ! ,f9ancial ,/ability ,act ( #bjaj 7#ab
 ,u4,s4,c4 #ecaa74  ,decemb] #af1 #bjaf 
,committ$ to ! ,committee ( ! ,:ole     
,h\se on ! ,/ate ( ! ,union & ord]$ to  
be pr9t$