,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #dbdh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,decemb] #ae1 #bjae   
,mr4 ,we/morel& 7= himself & ,mr4 ,david
 ,scott ( ,georgia7 introduc$ ! foll[+  
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to am5d 
! ,f9ancial ,/ability ,act to revise !  
reevaluation proc$ures ) respect to     
det]m9ations by ! ,f9ancial ,/ability   
,ov]sight ,c\ncil t a nonbank f9ancial  
company %all be sup]vis$ by ! ,bo>d (   
,gov]nors & %all be subject to prud5tial
 /&>ds4  #a4 ,%ort title ,?is ,act may  
be cit$ z ! ,,fsoc ,designation ,review 
,act4  #b4 ,reevaluation & reaffirmation
 ,section #aac7;d7 ( ! ,f9ancial        
,/ability ,act ( #bjaj 7#ab ,u4,s4,c4   
#ecbc7;d77 is am5d$ to read z foll[s3   
7d7 ,reevaluation & reaffirmation  7#a7 
,9 g5]al ,! ,c\ncil %all reevaluate ea* 
det]m9ation made "u subsections 7a7 &   
7b7 ) respect to a nonbank f9ancial     
company sup]vis$ by ! ,bo>d ( ,gov]nors 
on--  7,a7 an annual basis2 &  7,b7 ^u !

 reque/ ( su* company bas$ ^u !         
company's repres5tation t !re has be5 a 
mat]ial *ange 9 ! company's op]ations or
 activities or a mat]ial *ange 9        
regulatory or m>ket conditions4  7#b7   
,reevaluation ,z "p ( ! reevaluation    
requir$ by p>agraph 7#a71 ! ,c\ncil     
%all-- 7,a7 provide ! nonbank f9ancial  
company ) a confid5tial writt5 analysis 
( ! specific elem5ts ( ! company's      
exposures or activities t w\ld be       
relevant to ! ,c\ncil's reevaluation ( !
 det]m9ation = su* company2  7,b7       
provide ! nonbank f9ancial company ) an 
opportunity to submit writt5 mat]ials to
 ! ,c\ncil reg>d+ ! reevaluation1       
includ+1 z ! company's option1 a plan to
 obta9 rescission ( ! det]m9ation or o!r
 mat]ials relevant to ! assessm5t       
describ$ "u p>agraph 7#c77;,a72  7,c7 if
 ! nonbank f9ancial company submits a   
plan "u subp>agraph 7,b71 consid] :e!r !
 plan1 if implem5t$1 w\ld result 9 !    
nonbank f9ancial company no long] meet+ 
! crit]ia = a f9al det]m9ation "u       

subsection 7a7 or 7b72  7,d7 make a     
prelim9>y writt5 decision reg>d+ resc9d+
 su* det]m9ation2  7,e7 if ! prelim9>y  
decision is n to resc9d ! det]m9ation1  
provide ! nonbank f9ancial company )--  
7i7 a copy ( ! prelim9>y decision1 :i*  
%all include a confid5tial writt5       
analysis expla9+ ) specificity :e!r & to
 :at ext5t any plan submitt$ by !       
company "u subp>agraph 7,b7 addresses ! 
pot5tial ?reat pos$ by ! nonbank        
f9ancial company to ! f9ancial /ability 
( ! ,unit$ ,/ates2  7ii7 an opportunity 
to meet ) repres5tatives ( ! ,c\ncil to 
discuss ! prelim9>y decision & analysis 
provid$ "u clause 7i72 &  7iii7 an      
opportunity to revise & re-submit su*   
plan or any o!r writt5 mat]ials1 aft]   
discussions ) repres5tatives ( !        
,c\ncil2 &  7,f7 ^u ! reque/ ( ! nonbank
 f9ancial company1 grant su* company an 
oral he>+ be=e ! ,c\ncil4  7#c7         
,vuln]ability to f9ancial di/ress  7,a7 
,9 g5]al ,! writt5 analysis requir$ "u  
p>agraph 7#b77;,a7 %all include an      

assessm5t describ+ ) p>ticul>ity !      
vuln]ability ( ! nonbank f9ancial       
company to f9ancial di/ress1 includ+    
consid]ation ( ! company's lev]age1     
liquidity risk & maturity mismat*1 &    
exi/+ regulatory scrut9y ( ! company4   
7,b7 ,effective ( failure to include    
assessm5t ,if ! ,c\ncil provides a      
writt5 analysis "u p>agraph 7#b77;,a7 t 
does n conta9 ! assessm5t requir$ "u    
subp>agraph 7,a71 any det]m9ation made  
"u subsection 7a7 or 7b7 ) respect to   
su* company %all be resc9d$ imm$iately4 
7,c7 ,def9itions ,= purposes ( ?is      
p>agraph ! t]ms vuln]ability to f9ancial
 di/ress1 lev]age1 liquidity risk &     
maturity mismat*1 & exi/+ regulatory    
scrut9y ( ! nonbank f9ancial company    
%all h ! same mean+ z ^? t]ms are giv51 
respectively1 "u app5dix ,a to "p #acaj 
( title #ab1 ,code ( ,f$]al             
,regulations4  7#d7 ,reaffirmation  7,a7
 ,9 g5]al ,foll[+ a reevaluation "u     
p>agraph 7#a71 ! ,c\ncil %all vote :e!r 
to reaffirm ! det]m9ation t ! nonbank   

f9ancial company %all be sup]vis$ by !  
,bo>d ( ,gov]nors & %all be subject to  
prud5tial /&>ds1 pursuant to subsection 
7a7 or 7b71 z applicable4  7,b7 ,vote   
requirem5t ,any reaffirmation "u        
subp>agraph 7,a7 %all require a vote (  
no few] ?an #b_/c ( ! vot+ memb]s !n    
s]v+1 includ+ an affirmative vote by !  
,*airp]son1 f9d+ t ! company /ill meets 
! /&>ds = designation "u subsection 7a7 
or 7b71 z applicable4 ,any su* f9d+ %all
 include a detail$ explanation ( ! basis
 = ! ,c\ncil's det]m9ation1 includ+ a   
confid5tial writt5 analysis expla9+ )   
specificity :e!r & to :at ext5t any plan
 submitt$ by ! nonbank f9ancial company 
pursuant to p>agraph 7#b77;,b7 addresses
 ! pot5tial ?reat pos$ by ! company to !
 f9ancial /ability ( ! ,unit$ ,/ates4   
7,c7 ,effect ( failure to reaffirm ,if !
 ,c\ncil votes "u subp>agraph 7,a7 )    
respect to a nonbank f9ancial company & 
does n reaffirm ! designation1 !        
det]m9ation made ) respect to su*       
company %all be resc9d$ imm$iately4     

7#e7 ,views ( prim>y f9ancial regulatory
 ag5cy ,9 conduct+ a reevaluation "u    
p>agraph 7#a71 ! ,c\ncil %all consult ) 
! prim>y f9ancial regulatory ag5cy = !  
nonbank f9ancial company1 if any1 & !   
prim>y f9ancial regulatory ag5cies ( !  
company's pr9cipal subsidi>ies1 if any1 
& ! views ( su* ag5cies %all be giv5    
special consid]ation4  4  #c4 ,judicial 
review ,section #aac7;h7 ( ! ,f9ancial  
,/ability ,act ( #bjaj 7#ab ,u4,s4,c4   
#ecbc7;h77 is am5d$ by /rik+ subsection 
7d77#b7 & ins]t+ subsection 7d77#d74