,,ii #aaeth ,,congress #ast ,session ,s4 #aifb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,october #af1 #bjag,mr4 ,rounds 7for himself and ,mr4 ,blunt7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to provide relief to community banks1 to promote access to capital for community banks1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,community ,bank ,access to ,capital ,act of #bjag4 #b4 ,basel ,,iii exemption for community banks 7a7 ,definitions ,in this section-- 7#a7 the term community bank means-- 7,a7 an insured depository institution2 and 7,b7 a depository institution holding company with consolidated assets of not greater than #ej1jjj1jjj1jjj2 7#b7 the term insured depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c772 and 7#c7 the term depository institution holding company means a bank holding company or savings and loan holding company 7as those terms are defined under section #c7w7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7w7774 7b7 ,promulgation of regulations ,not later than #ij days after the date of enactment of this ,act1 the ,comptroller of the ,currency1 the ,board of ,governors of the ,federal ,reserve ,system1 and the ,federal ,deposit ,insurance ,corporation shall each promulgate a regulation exempting community banks from any regulation issued to implement ,basel ,,iii3 ,a global regulatory framework for more resilient banks and banking systems1 as issued by the ,basel ,committee on ,banking ,supervision on ,december #af1 #bjaj1 and revised on ,june #a1 #bjaa4 7c7 ,capital requirements adjustment ,the ,comptroller of the ,currency1 the ,board of ,governors of the ,federal ,reserve ,system1 and the ,federal ,deposit ,insurance ,corporation shall make the revisions to capital requirements as the ,comptroller1 the ,board1 and the ,corporation1 respectively1 determine are necessary or appropriate in light of the regulations required under subsection 7b74 #c4 ,internal control attestation requirement exemptions ,section #djd7;c7 of the ,sarbanes-,oxley ,act of #bjjb 7#ae ,u4,s4,c4 #gbfb7;c77 is amended-- 7#a7 by striking that is neither and inserting the following3 that-- 7#a7 is neither 2 7#b7 by striking the period at the end and inserting 2 or2 and 7#c7 by adding at the end the following3 7#b7 is an insured depository institution or a depository institution holding company 7as those terms are defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac771 with consolidated assets of not greater than #a1jjj1jjj1jjj4 4 #d4 ,regulation ,d changes ,not later than #ij days after the date of enactment of this ,act1 the ,securities and ,exchange ,commission shall-- 7#a7 amend section #bcj4eja7;a7 of title #ag1 ,code of ,federal ,regulations1 so that1 for purposes of calculating net worth under paragraph 7a77#e7 of that section1 the primary residence of a person shall be included as an asset2 and 7#b7 revise section #bcj4ejf7;b77#b77;i7 of title #ag1 ,code of ,federal ,regulations1 to change the limitation on the number of purchasers contained in the section from #ce to #gj4 #e4 ,changes required to small bank holding company policy statement on assessment of financial and managerial factors 7a7 ,definitions ,in this section-- 7#a7 the term bank holding company has the meaning given the term in section #b of the ,bank ,holding ,company ,act of #aief 7#ab ,u4,s4,c4 #ahda72 7#b7 the term ,board means the ,board of ,governors of the ,federal ,reserve ,system2 and 7#c7 the term savings and loan holding company has the meaning given the term in section #aj7;a7 of the ,home ,owners' ,loan ,act 7#ab ,u4,s4,c4 #adfg;a7a774 7b7 ,revision ,not later than #ahj days after the date of enactment of this ,act1 the ,board shall revise appendix ,c of part #bbe of title #ab1 ,code of ,federal ,regulations 7commonly known as the ,small ,bank ,holding ,company and ,savings and ,loan ,holding ,company ,policy ,statement71 to raise the consolidated asset threshold under that appendix from #a1jjj1jjj1jjj 7as adjusted by ,public ,law #aac-bej 7#ab ,u4,s4,c4 #ecga note77 to #e1jjj1jjj1jjj for a bank holding company or savings and loan holding company that-- 7#a7 is not engaged in significant nonbanking activities either directly or through a nonbank subsidiary2 7#b7 does not conduct significant off-balance sheet activities 7including securitization and asset management or administration7 either directly or through a nonbank subsidiary2 and 7#c7 does not have a material amount of debt or equity securities outstanding 7other than trust preferred securities7 that are registered with the ,securities and ,exchange ,commission4 7c7 ,exclusions ,the ,board may exclude any bank holding company or savings and loan holding company1 regardless of asset size1 from the revision under subsection 7b7 if the ,board determines that such action is warranted for supervisory purposes4 7d7 ,conforming amendment ,section #aga7;b77#e7 of the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecga7;b77#e77 is amended by striking subparagraph 7,c7 and inserting the following3 7,c7 any bank holding company or savings and loan holding company that is subject to the application of appendix ,c of part #bbe of title #ab1 ,code of ,federal ,regulations 7commonly known as the ,small ,bank ,holding ,company and ,savings and ,loan ,holding ,company ,policy ,statement74 4